A capital of ₹14,043 crore has been invested until end-March 2024. File picture.
| Picture Credit score: PTI
The manufacturing linked incentive scheme (PLI) for car and auto elements has up to now attracted a proposed funding of ₹67,690 crore, said Economic Survey 2023-24 tabled in Parliament on Monday.
A capital of ₹14,043 crore has been invested until end-March 2024, it acknowledged.
Economic Survey 2023-24 updates
Candidates have proposed employment era of 1.48 lakh, in opposition to which 28,884 of jobs have been generated until March 31, 2024, the Financial Survey 2023-24 acknowledged.
Up to now 85 candidates have gotten approval underneath the scheme, it famous.
The PLI scheme for car and auto elements has a budgetary outlay of ₹25,938 crore from FY23 to FY27.
The scheme has been sub-divided into champion OEM incentive scheme and element champion incentive scheme.
Apart from, the federal government has authorised the Nationwide Programme on Superior Chemistry Cell (ACC) Battery Storage in Might 2021 with a budgetary outlay of ₹18,100 crore.
The expansion within the worth of home manufacturing and consumption of automotive elements moderated throughout FY20 to FY23, in comparison with the previous 5 years, as per the most recent Financial Survey.
Within the first half of the final decade, passenger automobiles, reminiscent of automobiles and utility automobiles, skilled important progress, it mentioned.
Nonetheless, the pandemic had a considerable affect on all segments of the automotive business, it added.
“Whereas passenger automobiles shortly recovered, the restoration interval for two-wheelers, three-wheelers, and business automobiles is longer,” it acknowledged.
In FY24, the nation produced round 49 lakh passenger automobiles, 9.9 lakh three-wheelers, 214.7 lakh two-wheelers, and 10.7 lakh business automobiles, it acknowledged.
