{"id":251897,"date":"2021-07-29T18:30:03","date_gmt":"2021-07-29T13:00:03","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=251897"},"modified":"2021-07-29T17:52:33","modified_gmt":"2021-07-29T12:22:33","slug":"cabinet-approves-pli-scheme-for-specialty-steel-incentives-worth-inr-6322-crores","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/29\/cabinet-approves-pli-scheme-for-specialty-steel-incentives-worth-inr-6322-crores\/","title":{"rendered":"Cabinet approves PLI Scheme for Specialty Steel, incentives worth INR 6,322 crores"},"content":{"rendered":"<p style=\"text-align: justify;\">The Union Cabinet has approved the PLI Scheme for Specialty Steel on July 22, 2021.<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\">The key takeaways are as follows:<\/p>\n<ol style=\"text-align: justify;\">\n<li>Duration of the scheme would be 5 years commencing from FY 2023-2024 to FY 2027-2028.<\/li>\n<li>Products are covered under 5 categories &#8212; Coated\/Plated Steel Products, High Strength\/Wear resistant Steel, Specialty Rails, Alloy Steel Products and Steel wires and Electrical Steel.<\/li>\n<li>Incentive to be in range of 4% to 12% on incremental production.<\/li>\n<li>Mandatory condition: &#8211; Steel used for manufacturing \u2018specialty steel\u2019 must be \u2018melted and poured\u2019 in India, i.e. raw material (finished steel) used for making specialty steel will be made in India only, hence promoting end to end manufacturing within the country.<\/li>\n<li>Government expects additional investment of INR 40,000 crore and increase in productivity capacity by 25 MT.<\/li>\n<li>The scheme is expected to generate employment opportunities to about 5,25,000 people of which 68,000 will be direct employment.<\/li>\n<\/ol>\n<p style=\"text-align: justify;\">Source: Press Information Bureau.<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><span style=\"color: #000080;\">*Tanvi Singh, Editorial Assistant has reported this brief.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Union Cabinet has approved the PLI Scheme for Specialty Steel on July 22, 2021. &nbsp; The key takeaways are as follows: <\/p>\n","protected":false},"author":121,"featured_media":26751,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29535,4],"tags":[30554,46613,46614],"class_list":["post-251897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cabinet_decisions","category-legislationupdates","tag-cabinet","tag-pli-scheme","tag-speciality-steel"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Cabinet approves PLI Scheme for Specialty Steel, incentives worth INR 6,322 crores | SCC Times<\/title>\n<meta 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2021","format":false,"excerpt":"The Ministry of Chemicals and Fertilizers have notified Production Linked Incentive Scheme (PLI) for Pharmaceuticals on 3rd March, 2021[1]. Indian pharmaceutical industry is the 3rd largest in the world by volume and is USD 40 billion in terms of value. The country contributes 3.5% of total drugs and medicines exported\u2026","rel":"","context":"In &quot;Cabinet Decisions&quot;","block_context":{"text":"Cabinet Decisions","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/cabinet_decisions\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/03\/MicrosoftTeams-image-4.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/03\/MicrosoftTeams-image-4.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/03\/MicrosoftTeams-image-4.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/03\/MicrosoftTeams-image-4.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/03\/MicrosoftTeams-image-4.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":255938,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/10\/22\/pli-scheme-for-promoting-telecom-and-networking-products-manufacturing-launched-in-india\/","url_meta":{"origin":251897,"position":1},"title":"PLI scheme for Promoting Telecom and Networking Products Manufacturing launched in India","author":"Prachi Bhardwaj","date":"October 22, 2021","format":false,"excerpt":"The Ministry of Communication\u00a0has launched the Production Linked Incentive (PLI) Scheme for Telecom and Networking Products on October\u00a014,\u00a02021.\u00a0The Scheme\u00a0will be effective from 1st April, 2021\u00a0and seeks to\u00a0boost domestic manufacturing in the telecom and networking products by incentivising incremental investments and turnover with total outlay of \u20b9 12,195 crore.\u00a0 \u00a0 The\u00a0Investments\u00a0made\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/10\/MicrosoftTeams-image-83.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/10\/MicrosoftTeams-image-83.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/10\/MicrosoftTeams-image-83.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/10\/MicrosoftTeams-image-83.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/10\/MicrosoftTeams-image-83.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":246806,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/04\/09\/union-cabinet-approves-production-linked-incentive-pli-scheme-for-white-goods-air-conditioners-and-led-lights\/","url_meta":{"origin":251897,"position":2},"title":"Union Cabinet approves Production Linked Incentive (PLI) Scheme for White Goods (Air Conditioners and LED Lights)","author":"Prachi Bhardwaj","date":"April 9, 2021","format":false,"excerpt":"As per the Press Release dated 07.04.2021, the Union Cabinet has approved the approved the Production Linked Incentive (PLI) Scheme for White Goods (Air Conditioners and LED Lights) with a budgetary expenditure of Rs. 6,238 crore. Key features of the Scheme are- Incentives worth Rs. 6,238 Crore to be provided\u2026","rel":"","context":"In &quot;Cabinet Decisions&quot;","block_context":{"text":"Cabinet Decisions","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/cabinet_decisions\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":246719,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/04\/08\/union-cabinet-approves-production-linked-incentive-pli-scheme-national-programme-on-high-efficiency-solar-pv-modules\/","url_meta":{"origin":251897,"position":3},"title":"Union Cabinet approves Production Linked Incentive (PLI) Scheme &#8216;National Programme on High Efficiency Solar PV Modules&#8217;","author":"Prachi Bhardwaj","date":"April 8, 2021","format":false,"excerpt":"The Press Release dated 07.04.2021 states that the Union Cabinet has approved the Ministry of New & Renewable Energy's proposal for implementation of the Production Linked Incentive (PLI) Scheme 'National Programme on High Efficiency Solar PV (Photo Voltic) Modules' for achieving manufacturing capacity of Giga Watt (GW) scale in high\u2026","rel":"","context":"In &quot;Cabinet Decisions&quot;","block_context":{"text":"Cabinet Decisions","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/cabinet_decisions\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":248129,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/05\/12\/pli-scheme-national-programme-on-advanced-chemistry-cell-battery-storage-receives-approval-by-the-cabinet\/","url_meta":{"origin":251897,"position":4},"title":"PLI Scheme \u201cNational Programme on Advanced Chemistry Cell Battery Storage\u201d receives approval by the Cabinet","author":"Prachi Bhardwaj","date":"May 12, 2021","format":false,"excerpt":"On May 12, 2021, the Union Cabinet has approved the proposal for implementation of the INR 18,100 Crore - Production Linked Incentive (PLI) Scheme, \u201cNational Programme on Advanced Chemistry Cell (ACC) Battery Storage\u201d. The Scheme is aimed for achieving manufacturing capacity of 50 GWh of ACC and 5 GWh of\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":254308,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/17\/government-approves-pli-scheme-for-drones-and-drone-components\/","url_meta":{"origin":251897,"position":5},"title":"Government approves PLI Scheme for drones and drone components","author":"Bhumika Indulia","date":"September 17, 2021","format":false,"excerpt":"On September 15, 2021, the Ministry of Civil Aviation has issued approval of the Production-Linked Incentive (PLI) scheme for drones and drone components. The PLI scheme and new drone rules are intended to catalyse super-normal growth in the upcoming drone sector. Key features: Total amount allocated for the PLI scheme\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/251897","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/121"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=251897"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/251897\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/26751"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=251897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=251897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=251897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}