Government Extends Auto PLI Scheme Tenure with Partial Amendments for Auto Industry by One Year vervetimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vervetimes.com Daily Mail and Mail on Sunday newspapers.
Auto PLI Scheme: The Ministry of Heavy Industries has extended the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components by one year with partial amendments. The scheme will be applicable for five consecutive financial years, starting from FY24 and ending in 2027-28. The government has also modified the incentive outlay table to INR 25,938 crore.
Reliable sources within the industry have revealed that Ola Electric has successfully met the stringent eligibility assessment requirements outlined in the PLI Scheme, including a minimum of 50% domestic value addition to its vehicles.
Auto PLI allocation may remain unspent this fiscal; most firms yet to meet eligibility norms financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.