Business Companies 22 Sep 2022 Govt clears Rs 19,50 ...

Govt clears Rs 19,500-cr PLI scheme for solar PV modules

FINANCIAL CHRONICLE | MADHUSUDAN SAHOO
Published Sep 22, 2022, 1:53 pm IST
Updated Sep 22, 2022, 1:53 pm IST
The government on Wednesday approved a Rs 19,500-crore production linked incentive (PLI) scheme for manufacturing solar photovoltaic (PV) modules  (Representational image: PIB))
 The government on Wednesday approved a Rs 19,500-crore production linked incentive (PLI) scheme for manufacturing solar photovoltaic (PV) modules (Representational image: PIB))

New Delhi: The government on Wednesday approved a Rs 19,500-crore production linked incentive (PLI) scheme for manufacturing solar photovoltaic (PV) modules in order to attract investment in the solar space in the country. The scheme is expected to achieve manufacturing capacity of giga watt (GW) scale in high efficiency solar PV modules.

Besides, the government also approved modifications in the scheme for semiconductors and display manufacturing eco-system, with uniform fiscal support of 50 per cent of project cost for all technology nodes under the ambitious programme.

Announcing the decisions after the Cabinet meeting, information and broadcasting minister Anurag Thakur said, "The Union cabinet today approved a Rs 19,500-crore PLI scheme on a national programme on high efficiency solar PV modules with an aim to attract Rs 94,000 crore investment in the sector. It is likely to generate employment opportunities for nearly 1,95,000 people directly and 7,80,000 people indirectly."

Besides, the cabinet also tweaked the Rs 76,000 crore incentive scheme for semiconductors and display manufacturing units, offering to give 50 per cent of the project cost across all categories of factories as it looks to woo global players.

The cabinet also gave a go-ahead for National Logistics Policy, which aims at reducing transportation cost and promoting seamless movement of goods in the country.

Prime Minister Naren-dra Modi had unveiled the policy last week .

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Location: India, Delhi, New Delhi




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