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PLI incentives guidelines out, its payable for only five years

  

PLI incentives guidelines out its payable for only five years

 

The incentive under the Production Linked Incentive scheme will be payable for a period of only five years. The outlay of the scheme for the textile sector is Rs 10,683 crores. It will be in operation from September 24, 2021, to March 31, 2030. Any company or firm or trust willing to create a separate manufacturing firm under the Companies Act, 2013, and invest a minimum of Rs 300 crores, excluding land and administrative building cost, to manufacture notified products will be eligible to get the incentive when they achieve a minimum of Rs 600 crore turnover by the first performance year. Under the scheme, fiscal year 2024 to 2025 will be considered as the first performance year with a minimum prescribed turnover of Rs 600 crores.

Also any company or firm or trust willing to create a separate manufacturing company under the Companies Act, 2013, and invest a minimum of Rs 100 crores, excluding land and administrative building cost, to manufacture notified products will be eligible to get the incentive when they achieve a minimum of Rs 200 crore turnover by the first performance year. Changes may be made to the modalities of the scheme and issues related to genuine hardship that may arise during the course of implementation will be addressed.

 
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