PLI scheme disbursement will be about ₹13,000 crore in FY24: DPIIT Secretary

livemint.com:

₹13,000 crore in FY24 to firms that are seeking benefits under the production linked incentive (PLI) schemes, secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said at a press briefing in Delhi on Friday. The government disbursed ₹2,900 crore till March 2023 out of ₹3,400 crore claims received under the scheme. Singh also indicated that consultation is also under process to make changes in the schemes that are not performing as expected.

The PLI scheme was announced in 2021 for 14 sectors such as telecommunications, white goods, textiles, manufacturing of medical devices, automobiles, specialty steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones and pharmaceuticals with an outlay of ₹1.97 trillion. The secretary said it is expected that "during the tenure of the scheme, a good part (of that) will get exhausted". Savings from the scheme, he said, are already being considered for other PLI schemes or for restructured PLI schemes, adding that restructured PLI schemes are under various stages of inter-ministerial consultation.

“There are some course corrections or tweaking that are required. Some are minor, some are major, and that will require higher level approvals," he said. PLI schemes for sectors that are not picking up well include high-efficiency solar PV modules, advanced chemistry cell (ACC) batteries, textile products and specialty steel.