Categories: Schemes

Cabinet approves Rs 26,058 crore PLI Scheme for Auto and Drone Industry

The Union Cabinet has approved a production linked incentive (PLI) scheme for auto, auto-components and drone industries to enhance India’s manufacturing capabilities. The PLI scheme will incentivise the emergence of advanced automotive technologies’ global supply chain in India. Incentives worth Rs. 26,058 crore will be provided to industry over five years, the minister told reporters after the Cabinet meeting.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

About the scheme:

  • The PLI scheme for automobile and drone industries is part of the overall announcement of PLI schemes for 13 sectors made earlier during the Union Budget 2021-22, with an outlay of Rs. 1.97 lakh crore.
  • The scheme for the auto sector envisages overcoming the cost disabilities to the industry for the manufacture of advanced automotive technology products in India.
  • From the total budget of Rs 26,058 crores, an amount of Rs 25,938 crores has been sanctioned for the automobile industry and Rs 120 crores for the drone industry.

Find More News Related to Schemes & Committees

Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.

Leave a Comment
Share
Published by
Sumit Arora
4 years ago

Recent Posts

Which Indian State has the Largest Mountain Cover?

Did you know that a large part of India is covered by mountains and hills?…

9 hours ago

Which Country is the Largest Producer of Eggs in the World?

Did you know that eggs are one of the most commonly eaten foods in the…

9 hours ago

List of BCCI Presidents from 1928 Till Today, Check the Complete List

Did you know that cricket is not just a sport in India but almost a…

9 hours ago

Which Planet is known as the Green Planet?

Did you know that every planet in our solar system has its own special features…

10 hours ago

Which Herb is known as the King of Herbs?

Did you know that some herbs are so powerful and useful that people have given…

10 hours ago

Explained: Why Kharg Island Matters to Global Oil Supply

Tensions rise in the Israel-Iran conflict the situation is tense. Analysts and policymakers are closely…

10 hours ago