The Central Government has introduced the PLI scheme to promote manufacturing in the country. Through this, companies are given special concession as well as financial assistance for setting up and exporting their units in India.
Prime Minister Narendra Modi
The PLI scheme for solar PV modules and white goods has been approved in the cabinet meeting chaired by Prime Minister Narendra Modi. Let us tell you that the Central Government has started the PLI scheme to promote manufacturing in the country. Through this, companies are given special concession as well as financial assistance for setting up and exporting their units in India.
The devices used in everyday life are called white goods. These include fridges, washing machines, air conditioners and electrical household appliances.
What is the new decision of the government
After the cabinet meeting, Commerce Minister Piyush Goyal told in a press conference that a big decision has been taken to increase the manufacturing of solar equipment in the country. This has been brought under the PLI scheme. 4500 crore will be given as incentive to manufacturing companies.
Piyush Goyal said that this decision will create new jobs. Also, electricity prices will also remain under control. Approximately 32 thousand people will get employment. At the same time, indirectly about 1 lakh people are expected to get employment.
The central government has also taken a big decision regarding white goods. The Modi government has announced a PLI scheme to promote the manufacturing of white goods such as AC (air conditioner) fridges, washing machines.
What is the government’s preparation
In the next five years, an incentive of Rs 1.46 lakh crore will be given to companies producing in the country. Due to this, the expenditure on import of India will be reduced by becoming a product in the country. When goods are made in the country, new employment opportunities will also be created.
Experts say that under this scheme, foreign companies will be helped to set up factories in India as well as domestic companies to set up plants. This plan is for 5 years.
Experts say that the government wants to encourage manufacturing by turning the wheel of economy fast. Under this, the PLI scheme is being promoted. The manufacturing sector is more likely to have employment, hence the government’s full emphasis on the PLI scheme.
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