The meeting will be spearheaded by commerce and industry minister Piyush Goyal and will have participants from all 14 ministries involved in rolling out of the PLI scheme that aims to make India a manufacturing powerhouse, people aware of the matter told Business Standard.
“The idea is to have a detailed discussion on the implementation of the scheme as well as seek feedback from the industry and all other government departments,” the person said, adding that this is the first time such an exercise will be conducted by the minister, which is different from the time-to-time meeting of the empowered group of secretaries headed by the cabinet secretary.
As many as 13 out of 14 PLI schemes are already operational, barring the one for the steel that has seen major delays. “The issues pertaining to the PLI scheme for steel are also sorted and should be implemented soon,” the person cited above said.
During FY23, claims under the PLI scheme stood Rs 3,420 crore, out of which the government has paid incentives worth Rs 2,874 crore to the PLI beneficiaries across eight sectors–mobile manufacturing, IT hardware, pharmaceutical drugs, bulk drugs, medical devices telecom, food products and drones, according to the data shared by the industry department in April.
While disbursement of incentives were initially expected to triple to almost Rs 8,083 crore in FY24–the third year of the implementation of PLI scheme— the outgo is further expected to touch around Rs 13,000 crore by year-end. This is because the government expects the schemes to pick up, resulting in higher claims from the beneficiaries, two government officials said.
In April, a senior industry depa official had told reporters that the government is trying to address the issues in sectors that are not doing well and take them to a level which is acceptable to the industry and procedural lapses are removed.
—Incentive disbursements anticipated at Rs 13,000, up from initial estimate of Rs 8,083 crore
