Cabinet approves production-linked incentives for electronics manufacturing firms

NEW DELHI: The Union Cabinet has approved production-linked incentives worth Rs 40,995 crore for electronics manufacturing companies.
Sharing further details, Union communications minister Ravi Shankar Prasad on Saturday said the government will dole out incentives worth Rs 40,995 crore to boost manufacturing of electronics products.
“Two long-term policy decisions have been taken to make India hub of electronics manufacturing in new directions and medical electronics. Cabinet has approved production linked-incentive for electronics companies. We will give Rs 40,995 crore in the coming five years for production linked-incentive,” Prasad said.
Incentives will be linked to incremental sales and capital investment of the companies, he added.
“…because of these schemes, we hope to generate manufacturing revenue potential of Rs 10 lakh crore by 2025,” Prasad said.
The minister said that incentive of 25 per cent will be given on capital investment under the scheme.

Zeeshan Laskar

Leave a Reply

Your email address will not be published. Required fields are marked *

Next Post

We have reduced dope tests to roughly 25 percent of earlier numbers due to COVID-19: NADA DG | More sports News

Sat Mar 21 , 2020
NEW DELHI: The COVID-19 pandemic has hit India’s dope testing programme big time with the national watchdog, facing various logistical problems, reducing the sample collection of athletes to just 25 percent of earlier numbers. National Anti-Doping Agency (NADA) Director General Navin Agarwal, however, said that his organisation will be able […]
Close Bitnami banner