There are how many sectors are covered in Production linked Incentive (PLI) Scheme launched in August 2023?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2: 14
Explanation:
- The Government of India's Production Linked Incentive (PLI) scheme has proven to be a game-changer in boosting domestic manufacturing.
- Number of Sectors: Under this scheme, a total of 14 key sectors have been covered so far.
- Objective: To integrate India into the global supply chain, enhance manufacturing capabilities, and boost exports.
- Mechanism: Under this scheme, companies are provided with cash incentives by the government based on the incremental sales of products manufactured within India.
- Some key sectors covered under the PLI scheme:
The names of the key sectors are listed here for revision purposes:
- Electronics: Mobile phone manufacturing and specific electronic components.
- Pharmaceuticals: Medicines and medical devices.
- Food Products: Ready-to-eat and processed food items.
- Automobiles: Auto components and electric vehicles.
- White Goods: Air Conditioners (ACs) and LED lights.
- Others: Solar modules, specialty steel, and Advanced Chemistry Cell (ACC) batteries.
Important Questions for Upcoming Examinations:
Question: What is the full form of PLI?
Answer: Production Linked Incentive.
Question: Which Union Ministry was the first to launch the PLI scheme?
Answer: Ministry of Electronics and Information Technology (MeitY).
Question: What is the primary objective of the PLI scheme under the 'Atmanirbhar Bharat' (Self-reliant India) campaign?
Answer: To reduce imports and boost domestic manufacturing.