Deadline for PLI application for speciality steel extended till Sept 15, 2022.

According to the Press Trust of India report, the previous deadline to submit the applications was July 31, 2022. The central government has extended the deadline for the fifth time now. The manufacturers originally had to apply for the benefits under the Production-Linked Incentive (PLI) scheme by March 29 this year. The last date was however extended to April 30,2022 then to May 31, 2022. It further got postponed to June 30,2022 and then July 31,2022. A budget of Rs 6,322 crore was approved by the government last year under the PLI scheme with an intent to boost the production of specialty steel in the country.

                                                                     Image Credits : www.steelguru.com

Steel Ministry announced the last date for receipt of applications under the PLI Scheme for Specialty Steel through the online application window which has now has been extended up to September 15,2022.

“Criteria for participation, eligibility and other parameters have been notified on July 29, and the same are available on the portal. Interested companies are requested to first register and then apply on the portal well before the deadline,” the statement said.

Approved by the cabinet under the chairmanship of Prime Minister Narendra Modi, the PLI scheme is expected to attract an additional investment of Rs 40,000 crore in the Aatmnirbhar initiative and generate 5.25 lakh jobs in the country.

Finance Minister Nirmala Sitharaman had announced allocating Rs 1.97 lakh crore for the Production-Linked Incentive (PLI) scheme for 13 identified sectors in her 2021-22 budget speech. 

The scheme was introduced last year in March to boost domestic manufacturing under the government’s Aatmnirbhar Bharat initiative. The commerce ministry had earlier said the government was targeting a minimum production worth more than $500 billion in the next five years. 

Source : www.financialexpress.com/industry/sme