Amit Shah lauds Cabinet's 'landmark' decision on PLI; cites importance on Indian economy

After Union Cabinet gave nod to Production-Linked Incentive (PLI) in 10 key sectors, Union Home Minister Amit Shah on Wednesday said that this decision will give the 'right impetus' to the Indian economy. 'This step also aims at promoting job creation, linking India to the global value chain & building a self-reliant India,' he added. Amit Shah informed that with the introduction of the PLI scheme, India will become an important manufacturing and investment hub. 

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Amit Shah thanks PM Modi & Union Cabinet

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Taking to Twitter, Amit Shah thanked PM Modi and the Union Cabinet for extending the 'Viability Gap Funding' to the social sector on a PPP basis. Speaking further, the Minister said that this move by the government will give a major boost to health and education projects. Shah highlighted that the extension of Viability Gap Funding will help to strengthen the social sector. 

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Union Cabinet approves PLI scheme

The Union Cabinet on November 11 gave permission to introduce the Production-Linked Incentive (PLI) scheme in the 10 main sectors as it will help to enhance India's manufacturing capabilities and exports. The overall approved financial outlay for these 10 key sectors by the Union Cabinet is Rs 1,45,980. 

The sectors which have been identified under this scheme include Advanced Chemistry cell (ACC) battery (approved financial outlay over a five year period of Rs 18,100 crore), electronic/technology products (Rs 5,000 crore), automobile and auto component (Rs 57,042 crore), pharmaceuticals and drugs (Rs 15,000 crore), telecom and networking products (12,195 crores), textile products (Rs 10,683 crore), food products (Rs 10,900 crore), high efficiency solar photovoltaic modules (Rs 4,500 crore), white goods (ACs and LEDs) (Rs 6,238 crore) and speciality steel (Rs 6,322 crore). 

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(With ANI inputs)