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.
The Ministry of Heavy Industries on Monday announced the extension of the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components by one year with partial amendments .
This decision has been made after receiving the approval of the Empowered Group of Secretaries (EGoS). In pursuance of the approval of EGoS, the Ministry of Heavy Industries has made partial amendments in the Production Linked Incentive (PLI) Scheme for the Automobile and Auto Component Industry and Guidelines of the Scheme.
To streamline the operation of the PLI auto scheme, the ministry has proactively issued a standard operating procedure (SoP). This procedure, denoted as a SoP, functions as a framework to systematically manage and process the claims associated with incentives under the PLI auto scheme.