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
3 years ago

Recent Posts

Indian Railways Joins Mission Amrit Sarovar to Tackle Water Scarcity

The Indian Railways has been integrated into the Union Government's Mission Amrit Sarovar, launched in…

36 mins ago

Lok Sabha Passes Oilfield (Regulatory and Development) Amendment Bill, 2024

The Lok Sabha passed the Oilfield (Regulatory and Development) Amendment Bill, 2024, on 12th March…

58 mins ago

Axar Patel Appointed as Delhi Capitals Captain for IPL 2025

Delhi Capitals (DC), co-owned by JSW-GMR, has officially appointed Axar Patel as the team’s captain…

1 hour ago

In Which Year was the Ramon Magsaysay Award Established?

The Ramon Magsaysay Award is one of Asia's most prestigious honors, given to individuals and…

18 hours ago

Tamil Nadu Govt Replaces Rupee Symbol with Tamil Letter: A Language Debate Intensifies

The Tamil Nadu government’s decision to replace the Indian Rupee symbol (₹) with the Tamil…

19 hours ago

ACM A.M. Turing Award 2024: Andrew Barto and Richard Sutton Honored for Reinforcement Learning

The 2024 ACM A.M. Turing Award has been awarded to Andrew G. Barto and Richard…

20 hours ago