Union Cabinet Updates: Govt’s Booster Shot to Auto, Telecom Sectors; Drones Get Wings

union cabinet updates govts booster shot to auto telecom sectors drones get wings

Sumary of Union Cabinet Updates: Govt’s Booster Shot to Auto, Telecom Sectors; Drones Get Wings:

  • “The government has approved production linked incentive scheme for auto industry, auto-component industry, drone industry to enhance India’s manufacturing capabilities, Union minister Anurag Thakur said on Wednesday.
  • Union Cabinet on Wednesday approved the revised production-linked incentive (PLI) scheme for the automobile sector worth Rs 26,000 crore.
  • Last year, the government had announced the scheme for the automobile and auto components sector with an outlay of Rs 57,043 crore, earmarked for five years.
  • It has been reduced to Rs 25,938 crore because the scheme will now only incentivize makers of electric and hydrogen fuel cell vehicles, sources had earlier said.
  • Commenting on the scheme, Saurabh Kanchan, Partner, Deloitte India said, “Incentivizing new products such as the electric vehicles and alternate fuels as well as advanced technologies such as ADAS, ABS and AT is a welcome move.

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