CURRENT AFFAIRS

Detailed explanation-1: -The Government approved the Production Linked Incentive (PLI) Scheme for Automobile and Auto Component Industry in India for enhancing India’s Manufacturing Capabilities for Advanced Automotive Products (AAT) with a budgetary outlay of ₹25, 938 crore.

Detailed explanation-2: -The scheme was rolled out with an outlay of Rs 1.97 lakh crore for as many as 14 sectors, including automobiles and auto components, white goods, textiles, food products, high-efficiency solar PV modules, advanced chemistry cell and speciality steel.

Detailed explanation-3: -The Union Cabinet on Wednesday approved Production Linked Incentive (PLI) Scheme on ‘National programme on High Efficiency Solar PV Modules’ for achieving manufacturing capacity of Giga Watt (GW) scale in high efficiency Solar PV modules.

Detailed explanation-4: -This is intended to encourage domestic manufacturing and make the country self-reliant in these key industries. The Production Linked Incentive (PLI) schemes were announced in March 2020 to encourage domestic manufacturing and increase the competitiveness of Indian companies in the global market.

Detailed explanation-5: -Capacity Addition to go up to 26 million Tonnes with the Employment generation Capacity of 70, 000. Production Linked Incentive (PLI) Scheme for Specialty Steel was approved by Union Cabinet on 22.07. 2021, with a five-year financial outlay of Rs.