Auto PLI scheme to comprise 4 sub-schemes; here are the outlays
The government seems to have finalized the contours of the largest production-linked incentive (PLI) scheme for the automobile and automobile components. The Department of Heavy Industries has sent the proposal to finance ministry for a formal nod. CNBC-TV18 has learnt that the scheme will comprise 4 sub-schemes and companies can apply for a maximum three of these sub-schemes.
The government seems to have finalized the contours of the largest production-linked incentive (PLI) scheme for the automobile and automobile components. The Department of Heavy Industries has sent the proposal to finance ministry for a formal nod.
CNBC-TV18 has learnt that the scheme will comprise 4 sub-schemes and companies can apply for a maximum three of these sub-schemes.
People in the know, have also indicated that the total PLI sops will be capped at Rs 8,556 crore per company over 5 years.
There will be separate PLI norms for new companies planning to engage in auto manufacturing in India. The existing companies will be given a one year period to comply once the scheme is notified.
Watch accompanying video of CNBC-TV18’s Timsy Jaipuria for exclusive details about the scheme.
(Edited by : Abhishek Jha)
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