PLI Scheme: The government on Monday said that it is going to restart the process of applying under the production-linked incentive PLI scheme for household electronic products (white goods) like air conditioners (ACs) and LED lights for 90 days from July 15.
PLI Scheme: The government said on Monday that it is going to start the application process again under the production-linked incentive PLI scheme for household electronic products (white goods) like air conditioners (ACs) and LED lights for 90 days from July 15. The Ministry of Commerce and Industry said in a statement that the white goods industry wants to invest more under the production-linked incentive scheme. Keeping this in mind, the application process will be open from July 15 to October 12. No application will be accepted after the deadline.
Benefits available in PLI scheme
To avoid any kind of discrimination, existing beneficiaries of the scheme along with new applicants have also been made eligible to apply by increasing their investment. So far, 66 applicant companies with an investment of Rs 6,962 crore have been selected as beneficiaries of the PLI scheme. Under the guidelines of the scheme, applicants will be entitled to get incentives only for the remaining period of the scheme.
You can choose the investment period
Applicants approved in the proposed third round will be eligible under PLI for a maximum of three years. Only new applicants and existing beneficiaries who choose an investment period up to March 2023 and wish to increase their investment will be eligible for this. On the other hand, existing beneficiaries who have opted for an investment period up to March 2022 and want to move to a higher investment category in the proposed third round will be entitled to receive incentive money for a maximum of two years only.
The government had started the scheme
Along with this, to maintain liquidity in the business, better working capital management and to improve the operating cost of the beneficiaries, it has now been decided to start the system of quarterly claim process of PLI. On April 7, 2021, the Union Cabinet approved the PLI scheme of white goods for the production and assembly of components of air conditioners and LED lights. The scheme is to be implemented in a period of seven years from 2021-22 to 2028-29 and its cost is Rs 6,238 crore.
