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Budgeting for growth?

The interim budget 2024-25, announced by Union Finance Minister Nirmala Sitharaman on February 1, 2024, has allocated Rs 11.11 trillion as capital expenditure (capex) for the next financial year – which is 3.4 per cent of the GDP and 11.1 per cent more than the planned capex of Rs 10 trillion for FY24.Read more

Indian Oil Corp, Panasonic forge partnership for Li-ion battery manufacturing

The Indian government has taken steps to promote battery manufacturing by approving the PLI Scheme 'National Programme on Advanced Chemistry Cell (ACC) Battery Storage,' with a budgetary outlay of Rs 18,100 crore.Read more

Govt's PLI Scheme Spurs Rs 1.03 tn investment, exceeds Rs 3.20 tn in exports

As of now, companies participating in the scheme have received incentive disbursements totaling Rs 4,415 crore, compared to the Rs 1,541 crore disbursed by September.Read more

Ministry targets July 2024 for certification of 85 Applicants in automotive PLI scheme

The Ministry of Heavy Industries (MHI) plans to initiate the disbursement of incentives under the scheme in the financial year 2025.Read more

India extends auto PLI Scheme, boosts budget to Rs 25,938 Crore

The PLI scheme provides financial incentives to promote investments in the automotive manufacturing sector and enhance domestic production of Advanced Automotive Technology (AAT) products.Read more

Govt halts expansion of PLI Scheme, focusing on strengthening existing sectors

It is anticipated that a decision on enlarging the list of sectors eligible for incentives to bolster domestic manufacturing capabilities will be deferred until the formation of a new central government next year.Read more

Apple's 'Make in India' triumph, exceeds Rs 600 bn iPhone assembly target in FY24 Q1

The data is sourced from reports submitted by the three key vendors—Foxconn, Pegatron, and the recently acquired Wistron by the Tatas—to both the central and state governments.Read more

Govt officials laud PLI Scheme success across industries, DPDP rules finalised soon

Secretary S Krishnan announced that the Digital Personal Data Protection (DPDP) rules would be finalized in a few weeks, emphasizing that the DPDP Act strikes a balance between regulation and the security of personal data, fostering innovation.Read more

PLI scheme: Need for a course correction

The Government of India is reportedly planning to ease some norms for five sectors (textiles, pharmaceuticals, drones, solar and food processing) to help them better utlise the fund under its Production-linked Incentive (PLI) scheme.Read more

Impact of the PLI scheme on job creation

While large corporations play a pivotal role in India's economic landscape, it's the Small and Medium Enterprises (SMEs) that often act as the backbone of the nation's job market. The PLI scheme is a game-changer for these smaller organisations, as it provides them with a substantial boost, says Krishnendu ChatterjeeRead more

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