DAILY NEWS ANALYSIS

GS-III : Economic Issues Industry

03 August, 2021
12 Min Read

Government efforts for Manufacturing sector

Government efforts for the Manufacturing sector

Production Linked Incentive scheme: Keeping in view India’s vision of becoming Aatamnirbhar and enhancing India’s Manufacturing capabilities and exports, an outlay of Rs 1.97 lakh crore has been announced in Union Budget 2021-22 for production linked incentive scheme(PLI schemes) for 13 key sectors for 5 years starting from fiscal year 2021-22.On 12th May, 2021, MHI has approved a production linked incentive scheme (PLI scheme) for Advance Chemistry Cell(ACC) in the country. The total outlay of the scheme is Rs. 18,100 Crore for five years. The scheme envisages to establish a competitive ACC battery manufacturing set up in the country (50 GWh). Additionally 5 GWh of niche ACC technologies is also covered under the scheme. The scheme proposes a production linked subsidy based on applicable subsidy per KWh and percentage of value addition achieved on actual sales made by the manufacturers who set up production units.
Ease of doing business and compliance burden: To translate the Aatamnirbhar Bharat vision into a reality, Government is working to reduce compliance burden on businesses and citizens. Initiatives taken for compliance reduction are focused on simplifying and digitizing various processes, reduction in documents in documents to be submitted along with applications, reduction in frequency of inspections, third party inspections, auto renewals, decrease in frequency of return fillings and digital maintenance of registers/records.
Startup India: A Fund of Funds ForStartup Schemes (FFS) with corpus of Rs 10,000 crores to meet the funding needs of startups. Start-up India Seed Fund scheme approved with an outlay of Rs 945 Crore. The scheme shall provide financial assistance to startups for proof of concept, market entry, commercialization etc. It will support an estimated 3600 entrepreneurs through 300 incubators in the next 4 years.
Foreign Direct Investment(FDI) : As per the extant FDI policy, 100% FDI is permitted in the manufacturing sector under an automatic route.
Public Procurement: Public procurement is a sizeable share of the Indian economy. To promote domestic investment and usage of made-in-India products by the government, the public procurement(Preference to Make in India ) order has been revised on 16.09.2020
Industrial Corridor: The National Corridor Program(NICP) has been conceived to promote world-class manufacturing facilities and develop futuristic industrial cities in India. Eleven(11) industrial corridors have been identifying with 32 nodes/projects proposed to be developed in 4 phases until 2024-25.

Source: PIB

Join Our Telegram

US Resumes Nuclear Weapon Testing

Formation Day

03 Dec, 25
SHARE

On 1st November, eight Indian states—Andhra Pradesh, Chhattisgarh, Haryana, Karnataka, Kerala, Madhya Pradesh, Punjab, and Tamil Nadu—along with five Union Territories—Andaman and Nicobar Islands, Chandigarh, Delhi, Lakshadweep, and Puducherry—celebrate their Formation Day. This date marks an important milestone in India

Turtle (Kachhua) Wildlife Sanctuary

02 Dec, 25
SHARE

The Turtle Wildlife Sanctuary, also known as the Kachhua Sanctuary, is located in the Varanasi district of Uttar Pradesh. It is recognised as India’s first freshwater turtle wildlife sanctuary, established to conserve endangered turtle species and support the ecological health of the Ganga River. Location and Extent The sanctuary co

Introduction of AI and Computational Thinking (CT) in

02 Dec, 25
SHARE

The Ministry of Education plans to introduce Artificial Intelligence (AI) and Computational Thinking (CT) from Class 3 onwards in the 2026–27 academic year. This initiative is part of the National Curriculum Framework for School Education (NCF-SE) 2023 and aligns with the National Education Policy (NEP) 2020. The aim is to prepare student

Sal Tree

02 Dec, 25
SHARE

Scientists from the Environment Department of Himachal Pradesh University (HPU) in Shimla have recently revealed that the Sal tree (Shorea robusta) is the most effective natural air purifier for combating rising pollution levels. Their findings highlight the tree’s superior capacity to trap dust, absorb gases, and cleanse the air compared

US Resumes Nuclear Weapon Testing

02 Dec, 25
SHARE

The President of the United States has ordered the resumption of nuclear weapon testing after a gap of 33 years, the last test being in 1992. This decision marks a significant shift in global nuclear policy and has far-reaching implications for geopolitics, the environment, and international security. Status of Global Nuclear Weapon Testing

Quick Links Testimonials FAQ

Crash Course

Regular Modules 2024

Mains

Optional

Government efforts for Manufacturing sector

Government efforts for the Manufacturing sector

Formation Day

Turtle (Kachhua) Wildlife Sanctuary

Introduction of AI and Computational Thinking (CT) in

Sal Tree

US Resumes Nuclear Weapon Testing

DNA

03 Dec,2025

Important GS Topics

Toppers

Search By Date

Top Editorials

UPSC Courses

Saarthi Mentorship Programme

Important Tags

Articles:Geography And Environment

Articles: History Culture Society

Articles: Governance & National Issues

Articles: IR & IO

Articles: Economic Development & Economic Issues

Articles: S&T Internal Security

Articles: Ethics & Others

Articles: Others

Newsletter Subscription

SMS Alerts

Important Links