PLI Scheme: Auto sector recovering from epidemic will get speed, will get 7.5 lakh jobs, know what is the government's preparation

PLI Scheme: Auto sector recovering from epidemic will get speed, will get 7.5 lakh jobs, know what is the government’s preparation

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New Delhi. Production Based Incentive (PLI) scheme for companies manufacturing vehicles and its parts will provide bumper jobs in the country. 7.5 lakh additional employment opportunities will be created in the next five years. Arun Goyal, Secretary, Ministry of Heavy Industries, says that this scheme will also give impetus to the auto sector recovering from the epidemic. There will be a jump in sales along with production.

Goyal said that under the PLI scheme, along with employment, the production front will also accelerate. The production value is likely to increase by Rs 2,31,500 crore. He said that the 20 auto companies that have been selected for the scheme have committed to invest more than Rs 45,000 crore. The scheme is worth Rs 25,938 crore, so we hope that it will increase the production value of Rs 2,31,500 crore.

Investment in infrastructure will also provide relief

Finance Minister Nirmala Sitharaman had said in the Budget 2022 that 60 lakh jobs would be created across the country through the PLI scheme in five years. Goyal said that apart from the PLI scheme, the government is also emphasizing on strengthening the infrastructure. There are plans to invest heavily in infrastructure projects. This will also give a lot of relief on the employment front.

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Total 115 applications received

The Ministry of Heavy Industries says that the application window for the scheme was opened for 60 days. Till January 9, a total of 115 applications were received. Of these, 87 came under the auto component category and 38 under the OEM vehicle category. Out of these, 5 applications have come for both the categories. Out of 28 applications under OEM category, 20 have been considered eligible.

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India is giving highest incentive on e-vehicles

On the incentives received for electric vehicles, Goyal said that India is providing the best incentives in the world of electric vehicles. As a result of this, the growth of battery electric vehicles will be seen on the roads in the coming time. This will help in promoting the eco-system of electric vehicles. PLI Scheme for Automobiles and Auto Components (Rs 25,938 crore), PLI for ACC (Rs 18,100 crore) and FAME Scheme (Rs 10,000 crore) to make India an environmentally clean, sustainable, advanced and better EV based system will help.

Tags: auto news, business news, Job

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