Government can bring PLI scheme for some more areas in the budget

Budget 2023: On February 1, Finance Minister Nirmala Sitharaman (FM Nirmala Sitharaman) will present the country's budget. Everyone has high hopes for this budget. Amidst all this, the government can expand the PLI scheme this time. The government may announce financial incentives for the manufacture of toys, cycles, leather and footwear in the upcoming budget.

Funds have already been released

Sources believe that it can be expanded to provide benefits of the Production Based Incentive (PLI Scheme) scheme to areas with high employment. The government has already implemented PLI scheme worth about Rs 2 lakh crore in total 14 sectors including vehicles and vehicle components, large electronic equipment, pharmaceuticals, textiles, food products, high efficiency solar PV modules, advanced chemical cells and specialty steel.

Can be announced in the budget

Sources said the scheme aims to make domestic manufacturers competitive and 'champions' in the global market in these areas. The proposal to extend the PLI scheme to various sectors like toys and leather is in the final stage of approval and it is likely that it can be brought in the budget.

This money can be spent on many sectors

A source told that some amount is left out of this two lakh crore rupees. It can be considered to be applied in other areas. Finance Minister Nirmala Sitharaman will present the general budget for the financial year 2023-24 on February 1.