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Govt pays PLI incentives worth Rs 2,874 crore towards 8 sectors in FY23

Empowered group of secys, NITI Aayog review some sectors to bring them to 'acceptable levels'

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Depending on the departments and the nature of the scheme, it takes one to two months to get a company’s incentive claims approved

3 min read Last Updated : Apr 26 2023 | 9:14 PM IST

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Claims under the production-linked incentive (PLI) scheme stood at Rs 3,420 crore in 2022-23 (FY23), of which the government paid incentives of Rs 2,874 crore to PLI beneficiaries until March across eight sectors — mobile manufacturing, information technology hardware, pharmaceutical (pharma), bulk drug, medical device, telecommunications (telecom), food processing, and drone.

This translates into 1.4 per cent of the Rs 1.97 trillion that has been allocated for five years towards the scheme. The incentive payout is set to peak over the next two to three years, which will be crucial, Additional Secretary in the Department for Promotion of Industry and Internal Trade Rajeev Singh Thakur said on Wednesday.

Thakur said that pending claims of Rs 574 crore are yet to be disbursed and claims are at different stages of approval. Depending on the departments and the nature of the scheme, it takes one to two months to get a company’s incentive cl