The Modi government will spend Rs 2 lakh crore over the next five years to provide production-based incentives to 10 sectors and to fund the viability gap funding of infrastructure projects.
Businesses will get 2 lakh crore Diwali gift from the government
The government has announced a new package of 2 lakh crore rupees for the industry, giving a big relief to the industrial world of Corona. The government has decided to give production-based incentives (PLIs) to 10 sectors. The Union Cabinet approved the proposal on Wednesday.
Finance Minister Nirmala Sitharaman informed the cabinet decision that the government will spend Rs 2 lakh crore in the next five years to provide production-based incentives to 10 sectors and to fund the viability gap funding of infrastructure projects.
He said that this will create jobs, support emerging sector and promote self-reliant India. Significantly, to give relief to the people and industry of the country troubled by Corona, the government is constantly giving relief packages. This can be called another relief package.
These sectors will get relief
He said that the sectors that will get relief include advance chemistry cell batteries (Rs 18,100 crore), electronic and technology projects (Rs 5000 crore), automobiles and auto components (Rs 57,042 crore), pharmaceutical drugs (Rs 15,000 crore), telecom and networking. Products (Rs 12,195 crore), Textile Products (Rs 10,683 crore), Food Products (Rs 10,900 crore), Solar PV Modules (Rs 4,500 crore), White Goods (Rs 6,238 crore) and Specialty Steel (Rs 6,322 crore).
Apart from this, help has also been announced for many PPP projects under Y Billity Gap Funding for many sectors of infrastructure. Under this also the government will spend a large amount.