Union Cabinet Decision: In this scheme, the government will give 2 to 5 percent incentive. Under this, food processing units will be given to 10,900 crore rupees.
Big decision regarding processing unit
In the cabinet meeting chaired by Prime Minister Narendra Modi, a big decision has been taken regarding the food processing unit. The cabinet has approved the PLI Scheme in food processing. The government will continue this PLI scheme for the next five years. Under this, food processing units will be given to 10,900 crore rupees. Under this scheme, the government will give 2 to 5 percent incentive. Union Minister Prakash Javadekar has given this information in the press conference.
This incentive is as much as the company has produced in the last financial year. Incentives will be given on the amount of production over it. Its approval has been received from the cabinet and its guidelines will be released soon.
Last chance to apply for second round electronics manufacturing today
March 31 is the last date for submission of applications for the second phase of electronics manufacturing.
The government’s efforts to promote local manufacturing will be the biggest beneficiaries of electric car, batteries, food processing and clothing companies.
What is PLI scheme
In order to attract foreign companies to manufacture goods in India, the government has launched a Production Linked Incentive Scheme (PLI Scheme). Under the PLI scheme, the central government will give an incentive of Rs 1.46 lakh crore to companies making goods in India during the next five years.
All the emerging sectors such as automobiles, networking products, food processing, advanced chemistry, telecom, pharma and solar PV manufacturing can be taken advantage of this scheme.
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