The authorities has prolonged the tenure of production-linked incentive scheme for smartphones by a yr as a number of producers had been unable to fulfill the primary yr (FY21) gross sales goal as a result of Covid-led disruptions.
Accordingly, the termination yr of the scheme will now be FY26 as an alternative of FY25. However, the outlay, funding and gross sales targets, base yr, and incentive construction will stay similar.
The Ministry of Electronics and IT has cleared 16 proposals from home and worldwide corporations entailing funding of Rs 11,000 crore beneath the PLI scheme to fabricate cell phones price Rs 10.5 lakh crore over the subsequent 5 years.
The authorities has additionally made an extra allocation of Rs 19,041 crore for the continued BharatNet broadband challenge. With this the overall outlay for the challenge will likely be Rs 61,109 crore, together with the already accredited quantity of Rs 42,068 crore in 2017. This doesn’t burden the federal government’s fiscal place as funds for BharatNet are offered from the common service obligation fund the place round Rs 55,000 crore is mendacity unutilised.
Finance Minister Nirmala Sitharaman mentioned Rs 42,068 crore has been already utilised for reaching 1,56,223 gram panchayats that are actually prepared for broadband providers as of May 31.
“Now with this additional Rs 19,041 crore we should be able to complete the rest,” Sitharaman mentioned.
Discom reforms: Centre share at Rs 97K cr
New Delhi: Finance Minister Nirmala Sitharaman mentioned states have been allowed Rs 1,05,864 crore of further borrowing in FY22 as part of the credit score leeway introduced in May 2020.
States have been requested to take steps to enhance the discoms’ company governance and improve intervention of IT-enabled infrastructure to decrease pilferage in energy provide to avail part of the elevated web borrowing permitted by the federal government.
The discom reform scheme, the newest in a collection of 4 over the past twenty years beginning with the accelerated energy improvement and reforms programme unveiled in 2001, is seen to deal with the core problems with billing-collection inefficiencies and pilferage that cripple the sector. Of the Rs 3.03-lakh-core help, envisaged over 5 years beneath the scheme, the Centre’s share will likely be Rs 97,631 crore. —FE
PM: New steps to generate jobs
NEW DELHI: Prime Minister Narendra Modi mentioned on Monday {that a} host of measures introduced by Finance Minister Nirmala Sitharaman will assist stimulate financial actions, enhance manufacturing and exports, and generate employment.
In a collection of tweets, he mentioned choices will improve public well being amenities. “The measures will help to stimulate economic activities, boost production & exports and generate employment.” —with PTI
