In the first half of this fiscal year, the government has paid out Rs 1,596 crore for six industries, including electronics and pharmaceuticals, through the production-linked incentive (PLI) scheme, a senior official said on Tuesday.
With this, the initiative has now disbursed a total of Rs 11,317 crore since its inception. The scheme’s total expenditure for all 14 of its covered sectors is Rs 1.97 lakh crore.
Companies in eight different categories received an incentive of Rs 2,968 crore in 2022–2023. Nine sectors benefited from Rs 6,753 crore in 2023–2024 for increased production. The government projects that the disbursement will total Rs 15,000 crore for this fiscal year.
Officials are optimistic that the goal will be met because businesses don’t begin submitting claims until the audited output data for the prior year arrive, usually after September.
Large-scale electronics manufacturing companies received about Rs 964 crore of the Rs 1,596 crore distributed to businesses from April through September of this fiscal year. Food products came in at Rs 11 crore, telecom equipment at Rs 9 crore, bulk medications at Rs 6 crore, drones at Rs 2 crore, and pharmaceuticals at Rs 604 crore.
As of August 2024, investments of Rs 1.46 lakh crore had been realized across 14 sectors. More than 950,000 jobs have been created, exports have surpassed Rs 4 lakh crore, and additional output and sales of over Rs 12.50 lakh crore have been produced as a result of these investments. The PLI system has authorized over 760 applications across all sectors.
