Govt reopens software window for PLI scheme for ACs, LED lights for 90 days | India Information

NEW DELHI: The federal government on Monday stated it would reopen the applying window for the PLI scheme for white items, together with ACs and LED lights, for 90 days from July 15. The business has an urge for food to take a position extra below the manufacturing linked incentive (PLI) scheme, the commerce and business ministry stated.
The applying window shall stay open from July 15 to October 12.No software shall be accepted after the closure of the applying window.
With a purpose to keep away from any discrimination, each new candidates in addition to current beneficiaries of the scheme who suggest to take a position extra by means of switching over to increased goal section, could be eligible to use.
Up to now, 66 candidates with dedicated funding of Rs 6,962 crore have been chosen as beneficiaries below the PLI scheme.
Below the rules of the scheme, candidates shall solely be eligible for incentives for the rest of the scheme’s tenure.
“The applicant approved in the proposed third round would be eligible for PLI for maximum three years only in the case of new applicants and existing beneficiaries opting for investment period up to March 2023 seeking to move to higher investment category,” it stated.
Current beneficiaries who opted for funding interval as much as March 2022 and search transferring to increased funding class within the proposed third spherical, could be eligible for PLI for max two years solely.
Additional, to keep up liquidity within the enterprise, higher working capital administration, and improve operational effectivity of beneficiaries, it has been determined to introduce the system of quarterly claims processing of PLI instead of processing of claims on annual foundation.
The Union Cupboard had given approval for the PLI scheme for White Items for manufacture of elements and sub-assemblies of Air Conditioners (ACs) and LED lights on April 7, 2021.
The scheme is to be applied over a seven-year interval, from 2021-22 to 2028-29 and has an outlay of Rs 6,238 crore.

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