PLI Schemes Attract Rs 2 Lakh Crore Investment; Generate 12.6 Lakh Jobs: Govt

New Delhi, Feb 14 (KNN) The Government has informed the Lok Sabha that Production Linked Incentive (PLI) schemes covering 14 key sectors have attracted investments of around Rs 2 lakh crore, leading to significant gains in production, employment and exports.

In a written reply, Minister of State for Micro, Small and Medium Enterprises Shobha Karandlaje said the PLI schemes were notified with a total outlay of Rs 1.97 lakh crore to incentivise domestic manufacturing and enhance global competitiveness.

The schemes are designed to encourage incremental production, attract fresh investments, expand capacity and promote technology adoption by linking incentives directly to actual production and sales.

According to the Government, the realised investment has resulted in incremental production and sales of over Rs 18.70 lakh crore. The schemes have also generated employment for more than 12.60 lakh persons and contributed exports worth Rs 8.20 lakh crore.

To ensure timely disbursement of incentives, concerned Ministries and Departments have introduced quarterly claim disbursement provisions and streamlined Standard Operating Procedures to reduce compliance requirements.

The Government has also strengthened coordination with State Governments to fast-track regulatory approvals and reduce project commissioning timelines. 

In addition, a fully online claim submission system with an integrated grievance redressal mechanism has been implemented to facilitate transparent and timely processing of incentive claims.

The Minister said the PLI framework continues to support domestic manufacturing growth across electronics and other identified sectors.

(KNN Bureau)