Union Budget 2024: Finance Minister Nirmala Sitharaman can announce this new scheme
The countrymen are waiting for the first budget of the third term of the Narendra Modi government at the Center. It can be presented by Finance Minister Nirmala Sitharaman on the 22nd or 23rd of this month.
Many big announcements can be made for the countrymen in the budget by Finance Minister Nirmala Sitharaman. Finance Minister Nirmala Sitharaman can announce new Production Linked Incentive (PLI) schemes in this budget. According to reports, in this regard, the Finance Ministry headed by Union Minister Nirmala Sitharaman is evaluating the proposal prepared by several other departments after extensive deliberations. The central government is considering bringing PLI schemes for sectors like chemicals, toys, and footwear.
PLI schemes have been started for 14 sectors
Let us tell you that the Central Government has already started PLI schemes for 14 sectors to increase domestic manufacturing. The expansion of these schemes also helps the government in employment generation. The people of the country also get benefits from PLI schemes. In line with the Make in India program, the government announced an outlay of Rs 1.97 lakh crore in August 2023 to increase manufacturing capabilities and exports in the country.
Fund allocation can be increased for some.
At the same time, the fund allocation for some of the existing PLI schemes can be increased by the Ministry. The Central Government can increase the fund allocation on existing schemes by 30 percent based on the underlying demand of industry representatives and bodies.
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