DAILY NEWS ANALYSIS

GS-III : Economic Issues Industry

03 August, 2021
12 Min Read

Government efforts for Manufacturing sector

Government efforts for the Manufacturing sector

Production Linked Incentive scheme: Keeping in view India’s vision of becoming Aatamnirbhar and enhancing India’s Manufacturing capabilities and exports, an outlay of Rs 1.97 lakh crore has been announced in Union Budget 2021-22 for production linked incentive scheme(PLI schemes) for 13 key sectors for 5 years starting from fiscal year 2021-22.On 12th May, 2021, MHI has approved a production linked incentive scheme (PLI scheme) for Advance Chemistry Cell(ACC) in the country. The total outlay of the scheme is Rs. 18,100 Crore for five years. The scheme envisages to establish a competitive ACC battery manufacturing set up in the country (50 GWh). Additionally 5 GWh of niche ACC technologies is also covered under the scheme. The scheme proposes a production linked subsidy based on applicable subsidy per KWh and percentage of value addition achieved on actual sales made by the manufacturers who set up production units.
Ease of doing business and compliance burden: To translate the Aatamnirbhar Bharat vision into a reality, Government is working to reduce compliance burden on businesses and citizens. Initiatives taken for compliance reduction are focused on simplifying and digitizing various processes, reduction in documents in documents to be submitted along with applications, reduction in frequency of inspections, third party inspections, auto renewals, decrease in frequency of return fillings and digital maintenance of registers/records.
Startup India: A Fund of Funds ForStartup Schemes (FFS) with corpus of Rs 10,000 crores to meet the funding needs of startups. Start-up India Seed Fund scheme approved with an outlay of Rs 945 Crore. The scheme shall provide financial assistance to startups for proof of concept, market entry, commercialization etc. It will support an estimated 3600 entrepreneurs through 300 incubators in the next 4 years.
Foreign Direct Investment(FDI) : As per the extant FDI policy, 100% FDI is permitted in the manufacturing sector under an automatic route.
Public Procurement: Public procurement is a sizeable share of the Indian economy. To promote domestic investment and usage of made-in-India products by the government, the public procurement(Preference to Make in India ) order has been revised on 16.09.2020
Industrial Corridor: The National Corridor Program(NICP) has been conceived to promote world-class manufacturing facilities and develop futuristic industrial cities in India. Eleven(11) industrial corridors have been identifying with 32 nodes/projects proposed to be developed in 4 phases until 2024-25.

Source: PIB

Join Our Telegram

Voice clone-AI

Pradhan Mantri Suryodaya Yojana

06 Feb, 24
SHARE

Recently, Prime Minister announced Pradhan Mantri Suryodaya Yojana under which 1 crore households will get rooftop solar power systems. India’s Status of Current Solar Capacity India currently stands at 4th place globally in solar power capacity. As per Ministry of New an

Foreign Contribution Regulation Act (FCRA)- NGO

06 Feb, 24
SHARE

The Foreign Contribution Regulation Act, 2010 (FCRA) registration of two prominent non-governmental organisations (NGOs) — Centre for Policy Research (CPR) and World Vision India (WVI) have been cancelled this month. What is FCRA? Key provisions of FCRA, 2010 Key aspects Description

Voice clone-AI

06 Feb, 24
SHARE

Voice clone fraud has been on the rise in India. AI voice cloning – It is the process of creating a synthetic replica of a person’s voice through machine learning and speech synthesis technology.It is called as voice deepfakesor audio deepfakes. Objective – To achieve a high level of na

Science communication- how to promote

06 Feb, 24
SHARE

Steps taken by India to promote Science Communication Publications and Information Directorate (PID) - An organisation under Council of Science and Industrial Research (CSIR) established in 1951 for publishing and disseminating scientific information in India. National science magazines- The PI

Universal Basic Income (UBI)- Analysis

05 Feb, 24
SHARE

Universal Basic Income (UBI) can strengthen welfare architecture and unlock the nation’s latent demographic potential. UBI - It is an income support mechanism typically intended to reach all or a very large portion of the population regardless of their earnings or employment status. Objective- To provide enough to co

Quick Links Testimonials FAQ

Crash Course

Regular Modules 2024

Mains

Optional

Government efforts for Manufacturing sector

Government efforts for the Manufacturing sector

Pradhan Mantri Suryodaya Yojana

Foreign Contribution Regulation Act (FCRA)- NGO

Voice clone-AI

Science communication- how to promote

Universal Basic Income (UBI)- Analysis

DNA

06 Feb,2024

GS-III

PT Pickups

Toppers

Search By Date

Top Editorials

UPSC Courses

Saarthi Mentorship Programme

Important Tags

Articles:Geography And Environment

Articles: History Culture Society

Articles: Governance & National Issues

Articles: IR & IO

Articles: Economic Development & Economic Issues

Articles: S&T Internal Security

Articles: Ethics & Others

Articles: Others

Newsletter Subscription

SMS Alerts

Important Links