New Delhi, June 14 (KNN) The Union Cabinet is likely to approve Rs 25,000 crore scheme for semiconductor manufacturing, according to a report by ET NOW.

As per the report, the cabinet meeting is underway and the announcement is expected to be made on Wednesday afternoon.

In May, finance minister Nirmala Sitharaman had underlined the government's priority to incentivise and facilitate investments in India through PLI schemes, which are being expanded beyond the initial 14 sectors to include semiconductors and solar components.

Inviting Japanese investors to invest in India, the minister said the country had relaxed various restrictions to ensure greater ease of doing business and draw more investments. 

The government for a while has been keen on bringing semiconductors under the production-linked incentive (PLI) scheme. 

It had initially earmarked incentives worth Rs 1.97 lakh crore under various PLI schemes over a five-year period to spur domestic manufacturing.  (KNN Bureau)