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

Recent Posts

UNESCO Guillermo Cano Prize 2024 Awarded to Palestine Journalists in Gaza

In a gesture of solidarity and recognition, Palestinian journalists covering the crisis in Gaza have…

2 hours ago

Sanjaya Kumar Mishra to head GST Appellate Tribunal

Retired Justice Sanjaya Kumar Mishra has been appointed as the President of the Goods &…

3 hours ago

RBI Approves Re-appointment of Atanu Chakraborty as HDFC Bank Part-Time Chairman

Atanu Chakraborty's re-appointment as part-time Chairman of HDFC Bank for three years, effective from May…

3 hours ago

American Express Announces Inauguration of 1 Million Sq Ft Campus in Gurugram

American Express is set to inaugurate its expansive new campus in Gurugram, spanning nearly one…

4 hours ago

World Press Freedom Index 2024 Announced, India Ranked 159th Out of 180 Countries

In the latest edition of the World Press Freedom Index published annually by Reporters Without…

4 hours ago

Shashi Bhushan Singh Appointed Secretary of National Jute Board

Shashi Bhushan Singh, a 2010-batch Indian Railway Traffic Service (IRTS) officer, has been appointed as…

4 hours ago