Global Economy

No delays in PLIs: Piyush Goyal

Commerce and industry minister Piyush Goyal Saturday said that there is no delay as far as the Production Linked Incentive (PLI) schemes are concerned and that disbursement of funds happens at a “fast pace” once the beneficiary companies begin production.
Addressing a press conference on PLI and Bharat Mobility, he said: “We met 746 beneficiaries of the PLI schemes…some concerns also came in. There is no delay in the schemes.”
The government in 2021 announced PLI schemes for 14 sectors such as telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones, and pharma with an outlay of Rs 1.97 lakh crore.
Eight sectors including large-scale electronics manufacturing, IT hardware, bulk drugs, telecom, food processing, and drones are among the performing sectors.

The minister said that there is a whole gestation period to implement the projects because of which some sectors such as mobile phones and APIs have picked up pace as they began a long time back.

However, some sectors like compressors for air conditioners have complicated technology.“As companies go into production and their audits happen, there is fast paced disbursement of funds,” he said.His statement assumes significance as delays were observed in the processing of claim applications due to back-and-forth communication between beneficiaries and Project Monitoring Agencies (PMAs) which process the claims.

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