{"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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