Cabinet approves Rs 26,058 crore PLI Scheme for Automobile Industry and Drone Industry
- The Union Cabinet has approved a Production Linked Incentive (PLI) scheme for the automobile sector, with a budgetary allocation of Rs 26,058 crores, to increase the production of components like cars, auto parts, and other related 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.
- The PLI scheme provides incentives to the industry for boosting domestic production and reduce dependence on imports.
Points to Remember:
- How much amount has been approved under PLI scheme for automobile sector?
- Amount approved under PLI scheme for drone sector