LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Another big step towards Atmanirbhar Bharat! Rs 6,238 cr - Modi Cabinet approves PLI Scheme for ACs, LED Lights

It's yet another major step towards PM Narendra Modi's vision of 'Atmanirbhar Bharat'!

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Another big step towards Atmanirbhar Bharat! Rs 6,238 cr - Modi Cabinet approves PLI Scheme for ACs, LED Lights
Budgetary outlay of Rs. 6,238 crore. PIB pic.
Written By: Prashant Singh
Updated: Wed, Apr 07, 2021
07:47 pm
ZeeBiz WebDesk
RELATED NEWS
Voltas Share Price Target: AC rate hikes coming? Know the risks and what will drive company  Voltas Share Price Target: AC rate hikes coming? Know the risks and what will drive company
GST Impact: Consumer durable firms expect sales of TVs, refrigerators & ACs to dip in July-August, says CEAMA GST Impact: Consumer durable firms expect sales of TVs, refrigerators & ACs to dip in July-August, says CEAMA
Weekend Online Deals: Flipkart, Amazon offers heavy discounts on ACs, refrigerators, others Weekend Online Deals: Flipkart, Amazon offers heavy discounts on ACs, refrigerators, others

It's yet another major step towards PM Narendra Modi's vision of 'Atmanirbhar Bharat'! The PM Narendra Modi-led Union Cabinet on Wednesday approved the Production Linked Incentive (PLI) Scheme for White Goods (Air Conditioners and LED Lights) with a budgetary outlay of Rs. 6,238 crore.

"The prime objective of the PLI scheme is to make manufacturing in India globally competitive by removing sectoral disabilities, creating economies of scale and ensuring efficiencies. It is designed to create complete component ecosystem in India and make India an integral part of the global supply chains. The scheme is expected to attract global investments, generate large scale employment opportunities and enhance exports substantially," an official statement by Cabinet said.

"The PLI Scheme for White Goods shall extend an incentive of 4% to 6% on incremental sales of goods manufactured in India for a period of five years to companies engaged in manufacturing of Air Conditioners and LED Lights," the Cabinet statement added.

Government says, "Different segments have been earmarked for different types of components separately to specifically target global investments into desired areas. Selection of companies for the Scheme shall be done so as to incentivize manufacturing of components or sub-assemblies which are not manufactured in India presently with sufficient capacity. Mere assembly of finished goods shall not be incentivized."

Eligibility for scheme?

Government says, "Companies meeting the pre-qualification criteria for different target segments will be eligible to participate in the Scheme. Incentives shall be open to companies making brown field or green field Investments. Thresholds of cumulative incremental investment and incremental sales of manufactured goods over the base year would have to be met for claiming incentives."

"An entity availing benefits under any other PLI Scheme of Govt. India will not be eligible under this scheme for the same products but the entity may take benefits under other applicable schemes of Govt. of India or schemes of State governments. The Scheme will be implemented as a pan India scheme and is not specific to any location, area or segment of population. A number of global and domestic companies, including a number of MSMEs are likely to benefit from the Scheme," the Cabinet said after approval.

"The Scheme is expected to be instrumental in achieving growth rates that are much higher than existing ones for AC and LED industries, develop complete component eco-systems in India and create global champions manufacturing in India. They will have to meet the compulsory BIS and BEE Quality standards for sales into domestic market and applicable standards for global markets. It will also lead to investments in innovation and research and development and upgradation of technology," it further added.

It is estimated that over the period of five years, the PLI Scheme will lead to incremental investment of Rs. 7,920 Crore, incremental Production worth Rs. 1,68,000 Crore, exports worth Rs 64,400 Crore, earn direct and indirect revenues of Rs 49,300 crore and create additional four lakh direct and indirect employment opportunities.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
ACsair conditionersLED lightsPLI SchemeModi governmentaatmanirbhar bharat
RELATED NEWS
Voltas Share Price Target: AC rate hikes coming? Know the risks and what will drive company  Voltas Share Price Target: AC rate hikes coming? Know the risks and what will drive company
GST Impact: Consumer durable firms expect sales of TVs, refrigerators & ACs to dip in July-August, says CEAMA GST Impact: Consumer durable firms expect sales of TVs, refrigerators & ACs to dip in July-August, says CEAMA
Weekend Online Deals: Flipkart, Amazon offers heavy discounts on ACs, refrigerators, others Weekend Online Deals: Flipkart, Amazon offers heavy discounts on ACs, refrigerators, others

LATEST NEWS

Maharashtra lockdown e-pass: Here's how to apply for e-pass online and offline, check link, and other details now

Govt invokes DM Act for free passage of Oxygen inter-state amid Covid-19 crisis

Titagarh Wagons has an order book of Rs 4,500 crore: Umesh Chowdhary

CBSE Board Exam 2021 Class 12: Students DON'T MISS this LATEST UPDATE on REVISED DATESHEET - check all details here

Stocks in Focus on April 23: Indus Tower, Rallis, Lupin, Gland Pharma to Banks; here are the 5 Newsmakers of the Day

Shravan Rathod of Nadeem-Shravan fame DIES due to Covid 19-related complications

Gold Price Today, April 23: Check rates in Mumbai, Delhi, Chennai and Lucknow

Cadila Healthcare stock hits lifetime-high on Covid-19 Vaccine approval

Anil Singhvi’s Strategy April 23: Day support zone on Nifty is 14,250-14,300 & Bank Nifty is 31,200-31,400

Are you a PM-Kisan Samman Nidhi Yojana beneficiary? Did you get your Rs 2000 installment?

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved