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The government has decided to extend the Rs 25,938-crore production-linked incentive scheme for the automotive sector by one year, Union Heavy Industries Minister Mahendra Nath Pandey said on Tuesday.
Post extension, the five-year scheme, originally in place from 2022-23 to 2026-27, will be active until 2027-28.
At present, incentives are applicable under the scheme for determined sales of Advanced Automotive Technology (AAT) products (vehicles and components) manufactured in India from 1 April 2022 onwards for a period of five consecutive years. ....
PLI Scheme: A minimum 50% domestic value addition (DVA) is a key condition for companies to qualify for subsidies under the scheme. The intention is to promote local manufacture of new technology products such as electric vehicles (EV) rather than subsidising imports. ....
Indian Government Simplifies Process For Automakers To Receive Tax Incentives Under PLI Scheme swarajyamag.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swarajyamag.com Daily Mail and Mail on Sunday newspapers.
Achieving the scale of exports and production will not only help the sector to grow domestically, but also meet the goal of the government s Make in India for the World programme and achieve the target of a trillion-dollar digital economy by 2025-26, the minister said at an event here.In t ....