Allocations to production-linked incentive (PLI) schemes rose to nearly Rs 12,500 crore in FY25 from just under Rs 7,000 crore spent in the previous fiscal, according to Budget 2024.
The increase is led by the auto scheme, where the allocation jumped seven times to Rs 3,500 crore. Further analysis indicates a push for white goods PLI as well, with an outlay of Rs 298 crore from Rs 65 crore in the previous year.
ACC battery’s allocation has increased to Rs 250 crore from Rs 12 crore spent in FY24 revised estimates.
While allocations across the schemes remained unchanged from the interim Budget, textiles witnessed a push with the government budgeting Rs 45 crore, instead of the Rs 5 crore given in the interim Budget.
Earlier this month, the government had reopened applications for the white goods scheme.
The scheme has witnessed Rs 6,962 crore commitments from manufacturers since inception.
The finance minister in her budget also announced an employment-linked incentive scheme to push for job creation.
“These will be based on enrolment in the EPFO, and focus on recognition of first-time employees, and support to employees and employers,” the FM had said.
The Economic Survey released on the eve of the Budget talked about supplementing PLI efforts in job creation and talked about the need to create 7.9 million jobs annually until 2036.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
