The government on February 1 allocated Rs 57 crore for drone and drone components under the production linked incentive (PLI) scheme in the interim budget 2024.
The PLI allocation for drone and components in Budget 2024 is 72 percent higher than the previous year’s budget, which was Rs 33 crore.
Finance Minister Nirmala Sitharaman tabled the Budget 2024 as a vote-on-account ahead of the general elections scheduled for April-May 2024. A full budget for FY25 would be presented after the new government comes to power.
The incentives announced for the drone industry, which is currently in the nascent stage, is to promote manufacturing of drones and drone components in the country.
The goal of PLI scheme is to support Atmanirbhar Bharat—an initiative which focuses on increasing manufacturing in India. With the government’s boost, India’s manufacturing capacity is expected to increase, along with more employment opportunities and country’s reduced reliance on imports.
The scheme was announced in 2021 for 14 sectors such as telecommunications, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones and pharma.
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