Daily Current Affairs 2020 Cabinet approves Production-Linked Incentive Scheme for key sectors to boost manufacturing & exports | Daily Current Affairs 2020

Cabinet approves Production-Linked Incentive Scheme for key sectors to boost manufacturing & exports

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The Cabinet Committee on Economic Affairs, CCEA, has approved continuation and revamping of the Scheme for Financial Support to Public Private Partnerships in Infrastructure Viability Gap Funding Scheme till 2024-25 with a total outlay of eight thousand 100 crore rupees. Briefing reporters in New Delhi after the Cabinet meeting yesterday, Finance Minister Nirmala Sitharaman said, the aim of this Scheme is to promote Public Private Partnerships in social and economic infrastructure, leading to efficient creation of assets and ensuring their proper operation and maintenance and make the economically and socially essential projects commercially viable.   

The Union Cabinet has also approved the production linked incentive (PLI) scheme for 10 key sectors for enhancing India’s manufacturing capabilities and exports. These sectors include Telecom and Networking Products, Pharmaceutical and Drug, Automobile and Auto components, Textile products and Food products. 

Industry body FICCI has said that the announcement of PLI scheme for ten sectors by the Government is a major boost for the manufacturing sector. 

Source: News On Air

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