Indian economy will grow rapidly
When Prime Minister Narendra Modi’s government saw this dream of ‘self-reliant India’ in the Kovid era, the first question that came up was how it would be fulfilled. But the central government was preparing to fulfill this dream long ago and the scheme it prepared for this was called Production Linked Incentive Scheme (ie PLI Scheme). After all, how can this scheme of the government create a lot of job-investment in the country? How can it increase the exports of the country? Everything can be understood here…
Before proceeding further, let us tell you that recently news has come that the government can bring a scheme of 25,000 crores to promote the manufacturing of semiconductors in the country. Now whether it will come under PLI scheme or a separate scheme, clear information about it has not yet come out. Now let us understand the PLI scheme in detail…
PLI scheme is an attempt to make a child lazy in studies
If you understand the PLI scheme in very simple language – then there is a child who is smart in studies, but very lazy. In such a situation, his future is bright and he passes with good marks, then his family members try to help him in many ways to ‘encourage’ him.
Now the PLI scheme is also the same. India has the potential to become self-sufficient, there is market, there is demand and there is a need for new businesses to increase jobs in the future. But this is not happening due to many reasons. In such a situation, the government came forward in the role of a parent and has asked the companies of the world to invest in 14 sectors of the country, increase manufacturing, in return the government will ‘incentivize’ them on the basis of their production (production linked). Will give (incentive).
Government will distribute Rs 2 lakh crore
Now, like the elders of the house, the government has said that it will give incentive, but how much will it be? So the government has made a provision of Rs 1.97 lakh crore for this. In this, different amounts have been fixed for 14 different sectors. At the same time, this amount will be given on the basis of production in the next 5 years.
It would not mean that the company promised to make goods worth Rs 100 every year and the government gave full Rs 50 in the first year itself as an incentive of Rs 10. Rather, it will be given to the companies gradually on the basis of production in the next 5 years.
How will the country benefit from the PLI scheme?
India is the most populous country in the world. The scope of the middle class here is also increasing, so after all the needs of this population will also increase, and if the money increases, the desires will also increase. This population will want new electronic goods, will want Apple iPhone, will also want a new car or motorcycle. But if these goods or the parts used in them are not made in the country at all, then how will it work? The country will have to import it from China, Taiwan or Japan etc.
India depends heavily on imports for raw materials used in mobile phones, electronics, many essential parts of vehicles, medical devices, 5G devices, semiconductors and medicines. In such a situation, goods are bought and sold here, but the money is earned by the country which makes it, and for this, employment is also generated there. This scheme has been brought to break this cycle.
Jobs will be created, exports and production will increase
The government hopes that the PLI scheme will change the future of India. It will not only make the country self-sufficient in 14 sectors. Rather, more than 60 lakh new jobs will also be created within the country in the next 5 years. At the same time, by increasing the country’s exports, it will also make it an alternative to countries like China, Vietnam in the world’s supply chain. Recently there was news that Apple Inc can benefit so much from the government’s plan that it will produce 18 percent of its global iPhone production in India.
Which sector will get how much money?
Prime Minister Narendra Modi’s government has approved the PLI scheme for different sectors in cabinet meetings at different times since the launch of the scheme in March 2020. Accordingly…
- Companies manufacturing better and advanced components of vehicles in the country will get a total incentive of Rs 25,938 crore. Vehicle manufacturing companies will also get the benefit of this incentive amount. With this, the EV sector is also expected to get a boom in the country.
- Considering the increasing utility of drones in the country, the government’s focus is also on increasing its production. In such a situation, a provision of Rs 120 crore incentive has been made for this sector.
- The government has approved an incentive of Rs 18,100 crore to increase the production of battery storage in the country and to give a boost to the manufacturing of advanced chemistry cells etc.
- The government will give an incentive of more than Rs 48,000 crore to make mobile phones, laptops, tablets, PCs and servers etc. in the country.
- India grows a lot of food grains, but most of it goes to waste. In such a situation, the government will give an incentive of 10,900 crores to the food processing sector.
- To make essential medical devices in the country, the government will give an incentive of Rs 3420 crore to this sector.
- Some of the world’s largest steel companies are in India. That’s why the government wants that now products like electrical steel, high strength steel should be made in India, which are in demand outside the country. For this, the government will give an incentive of Rs 6,322 crore.
- There should be sufficient production of medicines and their raw materials in the country. For this, the government will spend about Rs 22,000 crore as an incentive.
- Modi government has been focusing on solar power since the beginning. That’s why the government will give an incentive of Rs 24,000 crore for solar cells, panels etc.
- For 5G and 4G network devices, hardware, Internet of Things products, switches and gears, the government is going to spend Rs 12,195 crore to provide incentives.
- Manufacturing of industrially used clothes increased in the country. For this, the textile sector will get an incentive of Rs 10,683 crore.
- In order to increase the production of electrical goods used in LEDs, AC fittings, motors, controllers, etc. in India, an incentive of Rs 6,238 crore will be given by the government.
Source: www.tv9hindi.com
: Language Inputs