Govt extends tenure of PLI scheme for Auto industry by a year with partial amendments

The government has extended the tenure of Production Linked Incentive (PLI) Scheme for Automobile and Auto Components by one year with partial amendments. Ministry of Heavy Industries in a statement said that under the amended scheme, the incentive will be applicable for a total of five consecutive financial years, starting from the financial year 2023-24. The disbursement of the incentive will take place in the following financial year 2024-25. The scheme also specifies that an approved applica...