BUDGET ANNOUNCEMENT: The Narendra Modi government has increased the budget for the Production-Linked Incentive (PLI) scheme to Rs 6,200 crore for FY25. The scheme, which currently covers 14 sectors, has attracted investments of over Rs 1.03 lakh crore and generated employment for over 6.78 lakh individuals. However, concerns have been raised about limited employment generation in sectors like leather, garment, handicrafts, and jewelry.
Interim Budget: India s manufacturing sector is being reinvented to achieve the country s ambition of becoming a $10 trillion economy. The Production Linked Incentives (PLI) scheme has played a strategic role in elevating India s manufacturing capabilities and attracting global companies. The scheme has already shown success in sectors like electronics, pharmaceuticals, and telecom. To further drive innovation, the government should extend PLI benefits to R&D investments. A dedicated PLI scheme for the chemicals sector could boost its growth and position India as a global hub. Additionally, a PLI scheme for the space sector could help India become a global leader in space technology.