{"id":14628,"date":"2021-04-01T00:00:00","date_gmt":"2021-04-01T00:00:00","guid":{"rendered":"https:\/\/www.nextias.com\/current_affairs\/uncategorized\/01-04-2021\/pli-for-food-processing-sector\/"},"modified":"2021-04-01T00:00:00","modified_gmt":"2021-04-01T00:00:00","slug":"pli-for-food-processing-sector","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/01-04-2021\/pli-for-food-processing-sector","title":{"rendered":"PLI for Food Processing Sector"},"content":{"rendered":"<p><strong>In News<\/strong><\/p>\n<p>Recently, The Union\u00a0 Cabinet approved a <strong>?10,900 crore-production linked incentive (PLI)\u00a0 <\/strong>scheme for its<strong> <\/strong>food processing industry<strong>.<\/strong><\/p>\n<p><strong>Key Highlights <\/strong><\/p>\n<ul>\n<li><strong>Implementation <\/strong>\n<ul>\n<li>This scheme will be implemented over <strong>six years till 2026-27<\/strong> and the government expects it to aid the expansion of <strong>production capacities<\/strong> to <strong>generate processed food output worth ?33,494 crores.<\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li><strong>Coverage<\/strong>\n<ul>\n<li>This scheme aims to <strong>incentivise the manufacturing of products<\/strong> in four segments \u2014 <strong>ready-to-cook and ready-to-eat, processed fruits<\/strong> and <strong>vegetables, marine products, and mozzarella cheese<\/strong>.<\/li>\n<li><strong>Innovative or organic products <\/strong>of <strong>small and medium-sized enterprises (SMEs<\/strong>) will also be <strong>eligible for this scheme<\/strong>.<\/li>\n<\/ul>\n<\/li>\n<li>A portion of the subsidies has also been allocated to support the branding and marketing activities of Indian brands to help them gain wider acceptance in international markets.<\/li>\n<\/ul>\n<p><strong>Significance <\/strong><\/p>\n<ul>\n<li>The scheme for food processing would contribute to the <strong>government\u2019s efforts to increase<\/strong> <strong>farmers\u2019 incomes<\/strong> through better <strong>processing of agricultural produce<\/strong> and <strong>attract huge foreign investments in the high-potential sector<\/strong>.<\/li>\n<li>The scheme will <strong>create jobs for 250,000 people<\/strong> and<strong> attract investments<\/strong> from <strong>global <\/strong>and <strong>domestic companies<\/strong> in the<strong> food processing sector. <\/strong><\/li>\n<li>It is aimed at helping farmers <strong>get better prices<\/strong> and also at <strong>reducing farm produce wastage.<\/strong><\/li>\n<\/ul>\n<table border=\"1\" cellspacing=\"0\" style=\"width:624px\">\n<tbody>\n<tr>\n<td style=\"background-color:#fff2cc; width:6.5in\">\n<p><strong>About Production Linked Incentive<\/strong><\/p>\n<ul>\n<li>It was introduced in March 2020, to boost <strong>domestic manufacturing and cut down<\/strong> on <strong>import bills.<\/strong><\/li>\n<li>The scheme for mobile and allied equipment was notified on 1st April 2020, the guidelines for pharmaceutical ingredients and medical devices were notified on 1st July 2020.<\/li>\n<li>The total incentives under the PLI schemes, covering sectors including telecom, <strong>electronics, auto part, pharma, chemical cells and textiles<\/strong>, stood at Rs 1.97 lakh crore over a <strong>five-year period.<\/strong><\/li>\n<li>The scheme has been <strong>rolled out for mobile and allied equipment <\/strong>as well as <strong>pharmaceutical ingredients and medical devices manufacturing<\/strong>.<\/li>\n<li>On 17th February 2021, Cabinet approved the PLI scheme for <strong>telecom equipment.<\/strong><\/li>\n<li>Recently, the Union Cabinet has approved the<strong> Production Linked Incentive (PLI) <\/strong>Scheme for the <strong>pharmaceuticals and IT hardware sectors, <\/strong>entailing an outlay of Rs. 15,000 crore and Rs. 7,350 crore, respectively.<\/li>\n<\/ul>\n<p><strong>Aims and Objectives <\/strong><\/p>\n<ul>\n<li>To <strong>give companies incentives<\/strong> on<strong> incremental sales<\/strong> from <strong>products manufactured in domestic units.<\/strong><\/li>\n<li>To invite <strong>foreign companies<\/strong> to set <strong>shop in India.<\/strong><\/li>\n<li>To encourage <strong>local companies<\/strong> to <strong>set up or expand existing manufacturing units.<\/strong><\/li>\n<li>The goal is to make <strong>India more compliant with the World Trade Organisation (WTO) <\/strong>commitments and also make it non-discriminatory and neutral with respect to domestic sales and exports.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><a href=\"https:\/\/www.livemint.com\/news\/india\/union-cabinet-approves-rs10-900-crore-food-processing-pli-scheme-11617184635557.html\" target=\"_blank\" rel=\"noopener\">Source :LM<\/a><\/p>\n<p>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In News Recently, The Union\u00a0 Cabinet approved a ?10,900 crore-production linked incentive (PLI)\u00a0 scheme for its food processing industry. Key Highlights Implementation This scheme will be implemented over six years till 2026-27 and the government expects it to aid the expansion of production capacities to generate processed food output worth ?33,494 crores. Coverage This scheme [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14629,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[26,46],"class_list":["post-14628","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs","tag-gs-3","tag-indian-economy-related-issues"],"acf":[],"jetpack_featured_media_url":"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2023\/07\/7020095current-affairs.jpg","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/14628","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=14628"}],"version-history":[{"count":0,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/14628\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media\/14629"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=14628"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=14628"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=14628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}