After a slow start, PLI scheme may switch on the afterburners in FY24

Rs 8,083 cr is expected to be disbursed this fiscal

As the government’s ambitious production-linked incentive (PLI) scheme enters its third year in FY24, the disbursement of incentives is expected to triple to almost Rs 8,083 crore. 

On Wednesday, the Department for Promotion of Industry and Internal Trade (DPIIT) said that disbursement in FY23 stood at Rs 2,874 crore, or only 1.4 per cent of the Rs 1.97 trillion scheme which was launched in FY21 to make India a manufacturing powerhouse.

About 80 per cent of the allocation in FY24 is for pharmaceuticals, drug intermediaries and active pharmaceutical ingredients, medical devices, large scale electronics, including mobile devices, and food.