Cabinet Meeting: Two major announcements likely today - Exclusive Details
Cabinet Meeting: The government is planning to make the semiconductor fabrication policy more lucrative and for this, it may remove the cap of Rs 12,000 crore for offering fiscal support of up to 50%.
Cabinet Meeting: The Union Cabinet is likely to make two major announcements in its meeting today. According to an exclusive report of Zee Business, one of the announcements will be related to the semiconductor fabrication policy. The government is planning to make this policy more lucrative and for this, it may remove the cap of Rs 12,000 crore for offering fiscal support of up to 50%.
It is important to mention that the government had announced to support fabs in the country by providing up to 50% of the project cost provided the investment is up to Rs 12,000 crore.
But this cap will be now removed and the moves are expected to give a boost to companies that are looking to invest in the semiconductor policy of India.
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#Investment को बढ़ावा देने के लिए ऐलान होंगे
#SemiConductor फैब्रिकेशन पॉलिसी को और आकर्षक बनाएंगे
#Solar PV मॉड्यूल के दूसरी PLI स्कीम का ऐलान होगा
— Zee Business (@ZeeBusiness) September 21, 2022
The second big announcement that is likely during the Cabinet meeting is regarding the production-linked incentive (PLI) scheme for solar power equipment. There are chances that the government may announce the second PLI scheme for Solar Power PV Modules.
"The government is likely to announce the second phase of Rs 19,500 crore PLI scheme," Zee Business's Swati Khandelwal said.
It should be noted that the government is coming up with a second PLI scheme as it received a good response and it felt that there is huge demand. "The feedback govt got from people is that there could be more investment if the govt offers some more subsidy," Khandelwal said.
Also, the Union Cabinet will most probably approve the National Logistics Policy. The policy was unveiled last week by Prime Minister Narendra Modi. The policy aims at cutting transportation costs by promoting the seamless movement of goods across the country.