Meity receives lion's share of PLI scheme and semiconductor outlay

The good news is that the automotive sector, which provides incentives for electric vehicles and components, is finally taking off

The Ministry of Electronics & Information Technology (Meity) has received a lion’s share of 62 per cent of the total allocation of Rs 21,085 crore earmarked in the Union Budget 2024-25 (FY25) for two flagship projects focused on enhancing manufacturing and Make in India initiatives.

The two schemes include the much-touted production-linked incentive (PLI) scheme, which now covers 16 sectors instead of 14, including toy, footwear, and leather.

The second scheme is the modified programme for the development of semiconductors and displays, which provides incentives to companies to set up silicon and compound fabrication (fab), display fab,