FICCI welcomes PIL scheme

Ebangla Bureau

FICCI writes to FM Sitharaman, says economy requires Rs 4.5 lakh crore  fiscal support at current juncture

Industry body FICCI has hailed the Production Linked Incentive (PLI) scheme announced by the GOI for 10 key sectors for enhancing India’s manufacturing capabilities and exports. These sectors include Telecom and Networking Products, Pharmaceutical and Drug, Automobile and Auto components, Textile products and Food products. FICCI has said that the announcement of PLI scheme is a major boost for the manufacturing sector. The Cabinet Committee on Economic Affairs has approved continuation and revamping of the Scheme for Financial Support to Public-Private Partnerships in Infrastructure Viability Gap Funding Scheme till 2024-25 with a total outlay of eight thousand 100 crore rupees. Announcing the PIL scheme at a Cabinet briefing, Finance Minister Nirmala Sitharaman said, the aim of this Scheme is to promote Public-Private Partnerships in social and economic infrastructure, leading to efficient creation of assets and ensuring their proper operation and maintenance and make the economically and socially essential projects commercially viable. Rise in PMI Index, energy consumption, GST collection, bank credit, FPI investment show that India’s economy is doing better, FM said. Market Capitalization and Forex Reserve are on all time high which is a positive indicator. The Union Cabinet chaired by the Prime Minister, Narendra Modi has approved the Production-Linked Incentive Scheme in the 10 key sectors. This scheme will make Indian manufacturers competitive globally and attract investment in the areas of core competency with cutting-edge technology. It will also ensure efficiencies, enhance exports and make India a pivotal part of the global supply chain.pic courtesy: The Statesman

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