2 min read.Updated: 15 Sep 2021, 03:57 PM ISTLivemint
Cabinet also approved 100% FDI in telecom via automatic route
₹25,938 crore is the total outlay of the auto PLI scheme. ₹120 crore to be allocated for drone PLI scheme, said Union Minister Anurag Thakur
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The Union Cabinet on Wednesday briefed on several Cabinet decisions taken earlier in the day. Among them, the revised production-linked incentive (PLI) scheme for the automobile sector, which aims at promoting domestic manufacturing and create jobs has been approved.
Along with that, the Cabinet also approved a package for the telecom sector, aimed at giving relief to companies such as Vodafone Idea that have to pay thousands of crores in unprovisioned past statutory dues.
-AGR definition is rationalised, non-telecom revenue won't be included in AGR definition: Telecom minister.
-9 big approvals have been taken in the telecom sector today, says Vaishnav.
-Union Telecom Minister Ashwini Vaishnav now briefs on telecom sector decisions.
-Battery and hydrogen fuel cell makers to get additional incentive; 5% additional incentive for electric and hydrogen fuel cell vehicle. Incentives under the Auto PLI Scheme range from 8-13%: Thakur says.
-India's share in global auto sector is 2% and there is a need to increase it, says Thakur.
-Want to make auto sector globally competitive.
-Need to reduce auto component imports of 17 billion.
-2-wheelers and 3-wheelers have to make investments of ₹1,000 cr over five years. Component makers will have to make investments of ₹500 cr over five years under the PLI scheme.
-Govt has given incentives to the tune of ₹120 cr for drone industry. Drone industry will receive exceptional treatment
-Benefits under Advanced Chemical Cell PLI and FAME schemes to continue.
-Auto sector will generate employment for over 7 lakh people through this PLI scheme.
- ₹25,938 crore is the total outlay of the auto PLI scheme. ₹120 crore to be allocated for drone PLI scheme, said Union Minister Anurag Thakur.
-Cabinet has approved production-linked incentive scheme for auto, auto components and drones industries.
-Last year, the government had announced the scheme for the automobile and auto components sector with an outlay of ₹57,043 crore, earmarked for five years
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