CURRENT AFFAIRS

Detailed explanation-1: -The scheme provides eligible companies an incentive of 6 percent to 4 percent on incremental sales (over the base year) of goods manufactured in India under target segments for a period of 5 years after the base year, FY 2019-20. The incentives have applied from August 1, 2020.

Detailed explanation-2: -The scheme shall extend an incentive of 4% to 6% on incremental sales (over base year) of goods manufactured in India and covered under target segments, to eligible companies, for a period of five (5) years subsequent to the base year as defined.

Detailed explanation-3: -The exports of Electronic goods during the period April – December 2022 recorded $ 16.67 bn as compared to $ 10.99 bn during the same period last year registering a growth of 51.56%.

Detailed explanation-4: -From 2018 to 2022, its annual growth rate averaged 2.7%. The biggest growth in this period was seen in 2020, when the industry’s revenues soared 20.8%, year-over-year. In comparison, the industry grew at a fractional 0.92% in 2018 and 2.8% in 2019.

Detailed explanation-5: -India’s market share in the global electronics manufacturing industry increased to 3.6% in 2020 from 1.3% in 2012. The Production Linked Incentive (PLI) scheme has effectively enticed international champions while giving an impetus to domestic manufacturers and creating national champions with global ambitions.