Cabinet approves schemes to boost electronics manufacturing

Under the scheme, electronic manufacturing companies will be given an incentive of 4% to 6% on incremental sales, over base year, of goods manufactured in India to eligible companies over a period of next 5 years.
Sheena

Updated: Mar 23, 2020 08:15:15 pm

23 March 2020 Current Affairs:The Union Cabinet approved schemes that involve a total incentive of around Rs.48,000 crore to boost electronics manufacturing in the country. The information was passed by Union Minister Telecom and IT Minister Ravi Shankar Prasad.

Scheme Highlights:
♦ Under the scheme, electronic manufacturing companies will be given an incentive of 4% to 6% on incremental sales, over base year, of goods manufactured in India to eligible companies over a period of next 5 years.
♦ The government aims to generate manufacturing revenue potential of Rs.10 lakh crore.
♦ Government plans to create direct and indirect jobs for 20 lakh people by 2025 through these schemes.
♦ Also, Cabinet has approved production linked-incentive for electronics companies. The govt. will give Rs.40,995 crore in the coming five years for production linked-incentive.
♦ The scheme also aims for the promotion of manufacturing of electronics components and semiconductors with a budget outlay of Rs.3,285 crore spread over a period of 8 years.
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