In Union Budget 2021-22, PLI schemes for 13 key sectors of manufacturing starting from fiscal year (FY) 2021-22 have been announced. The full form of PLI is:
- APerformance Liability Indemnity
- BProduction Linked Incentive
- CProduction License Indemnity
- DPerformance Linked Incentive
Solution & Step-by-step Explanation
The full form of PLI is Production Linked Incentive.
The scheme aims to boost domestic manufacturing, increase export capacity, and attract large investments into India across 13 crucial manufacturing sectors by giving financial incentives on incremental sales from products manufactured in domestic units.
The scheme aims to boost domestic manufacturing, increase export capacity, and attract large investments into India across 13 crucial manufacturing sectors by giving financial incentives on incremental sales from products manufactured in domestic units.