Government's PLI Schemes Drive Economic Transformation

The government disbursed Rs 1,596 crore under PLI schemes for electronics, pharma, and other sectors in the first half of the fiscal year. Initiated in 2021, these schemes aim to boost investment and production across various sectors. By 2024, investments have reached Rs 1.46 lakh crore, creating significant employment and exports.

In a strategic initiative to fortify the nation's industrial capabilities, the government has disbursed Rs 1,596 crore under Production-Linked Incentive (PLI) schemes during the first half of the current fiscal year, an official reported.

The PLI schemes, announced in 2021, include sectors such as electronics, pharma, and telecommunications, with an ambitious budget of Rs 1.97 lakh crore. The electronics sector emerged as the largest beneficiary, receiving Rs 964 crore.

By August 2024, these schemes have successfully attracted investments worth Rs 1.46 lakh crore, significantly boosting production and exports, and creating employment for over 9.5 lakh individuals. This initiative is expected to have a transformative effect on the MSME ecosystem, establishing new supplier bases across various industries.

(With inputs from agencies.)