A key scheme to incentivise domestic electronics manufacturing in the country has led to job creation of over 1,20,000 and a capital expenditure of Rs. 17,955 crore till January 2020 since its inception in 2012.
Ravi Shankar Prasad, union minister for electronics and IT told the Lok Sabha on Wednesday in response to a question on Modified Special Incentive Package Scheme (M-SIPS) which was notified in July 2012.
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The scheme provides subsidy on capital expenditure in the range of in the range of 20-25%. Under the Scheme, 397 proposals have been received so far out of which 252 proposals worth Rs. 72,048 crore have been approved while 145 proposals worth Rs. 36,076 crore are under appraisal.
Source: Economic Times
