Govt Disburses Rs 1,596 Crore in Six PLI Schemes During April-Sept 2024

The government has disbursed Rs 1,596 crore under its Production-Linked Incentive (PLI) schemes for six sectors, including electronics and pharmaceuticals, during the first half of the current fiscal year (April-September 2024), according to an official announcement.

Launched in 2021, the PLI schemes target 14 sectors, including telecommunication, white goods, textiles, medical devices, automobiles, specialty steel, food products, high-efficiency solar PV modules, advanced chemistry cell batteries, drones, and pharma. With an outlay of Rs 1.97 lakh crore, the initiative aims to enhance domestic manufacturing and attract global investment.

The largest share of Rs 964 crore was allocated to the PLI scheme for large-scale electronics manufacturing, followed by Rs 604 crore for the pharmaceutical sector, Rs 11 crore for food products, Rs 9 crore for telecommunications, Rs 6 crore for bulk drugs, and Rs 2 crore for drones.

As of FY 2023-24, a total of Rs 9,721 crore in incentives has been disbursed, with significant positive impacts on the country’s micro, small, and medium enterprises (MSMEs). The cascading effects of the scheme are evident in the growing number of MSMEs established as ancillary units in the value chain of anchor industries across multiple sectors.

Additionally, by August 2024, investments totaling Rs 1.46 lakh crore have been realized across 14 sectors, driving an incremental production/sales value of over Rs 12.50 lakh crore. The initiative has also generated over 9.5 lakh jobs and boosted exports exceeding Rs 4 lakh crore. More than 760 applications have been approved under the PLI schemes, demonstrating their growing success.

The disbursements are managed by the departments overseeing the respective schemes. The PLI program is designed to attract investments, promote cutting-edge technology, drive efficiency, and enhance the competitiveness of Indian manufacturers on the global stage.