PM The Union Cabinet chaired by Narendra Modi has recently taken three such important decisions which will boost Make in India in the country. Union Minister Anurag Thakur says that PM Narendra Modi makes constant efforts to promote production in the country and this decision of the government is very important in this episode.
Semiconductor sector will get this advantage
The cabinet has made changes in the incentive scheme of 76,000 crores for companies making semiconductors and displays. Under this, all categories of factories will be given uniform financial assistance of 50 percent of the project cost. Earlier there was a provision to give 30-50% incentive for different categories. Experts say that this will encourage 50 per cent of the project cost across all technology nodes for setting up state-of-the-art computing chips as well as semiconductor fabs used in sectors such as power, telecommunications and automotive. This will give a huge boost to the production of silicon, compound fabs, packaging units, display fabs, design, innovation ecosystem etc.
Government decided in logistics policy
The central government has made changes in the logistics policy. Experts believe that this will help reduce the cost of uninterrupted transportation and promote uninterrupted supply of goods in the country. In this regard, Prime Minister Narendra Modi has claimed that this will reduce the current logistic cost of business from 13-14 per cent to below 10 per cent. It is worth noting that in this policy a detailed framework has been set for the logistics sector. This policy will accelerate growth and increase the country’s participation in global trade. Farmers and the Micro, Small and Medium Enterprises (MSME) sector will be particularly benefited. Regarding this policy, Union Minister Anurag Thakur claims that by 2030, India will be among the top-25 countries in the Logistics Performance Index ranking. It aims to develop a technologically enabled integrated, cost efficient, resilient, sustainable and reliable ecosystem for inclusive growth, he says. Knowing this, the logistic policy is considered a complement to the Prime Minister’s Gati Shakti National Master Plan. It is also being claimed that this will encourage a large number of investments and employment in the country. This figure can be up to two lakh crores.
decision to promote solar energy
The central government has announced a PLI scheme of Rs 19,500 crore to promote solar PV modules. Experts believe that this will boost the manufacturing of high-efficiency solar PV modules in the country and will bring investment of about Rs 94,000 crore in the country. With this, the country’s solar PV manufacturing capacity will increase by 65,000 MW annually. Significantly, the scheme will be implemented in 14 areas and its benefits will be available for five years. With the information, PM Narendra Modi is also seeing it as a step forward in the field of green energy.
(Disclaimer: These are personal views of the author.)
Tags: make in india, PM Modi
FIRST PUBLISHED : September 30, 2022, 15:36 IST