The Cabinet on Wednesday cleared production-linked incentive (PLI) schemes for pharmaceuticals and IT hardware, including laptops, which would cost the government as much as Rs 22,350 crore.
Shedding the historical, costly bias in favour of small companies, the government has earmarked big bucks for big firms with elevated export potential. Under the scheme for pharmaceuticals, as much as Rs 11,000 crore (73% of the total incentives of Rs 15,000 crore) will be extended to eligible applicants whose global manufacturing revenue was in excess of Rs 5,000 crore in FY20. Similarly, the firms with manufacturing revenue of Rs 500-5,000 crore in FY20 will be granted incentives of Rs 2,250 crore.
Source: Financial Express
