Piyush Goyal Highlights Impact of PLI Scheme on Employment Generation
Piyush Goyal on PLI Scheme and Employment Growth
Minister Piyush Goyal announced that investment under the production linked incentive (PLI) scheme is projected to boost employment generation by 40%, resulting in 1.2 million jobs. Currently, only 0.85 million jobs exist.
Growth in Production and Support for New Entities
Goyal noted that production value is expected to surge beyond Rs 11 lakh crore, a significant rise from the Rs 9 lakh crore mark achieved to date. During a discussion with 140 industry leaders, he stressed the intertwined nature of Make in India and the PLI initiative.
- Government procurement will undergo review for specific sectors.
- Amendments will focus on enhancing domestic value addition.
- New support measures for first-time producers in India are being considered.
PLI Scheme Scope and Future Provisions
The government administers PLI initiatives across 14 sectors, currently encompassing 1,300 operational units. Goyal also hinted at a forthcoming Jan Vishwas Bill No 2 designed to ease compliance and encourage local procurement.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.