Amendments to the PLI Scheme for the Automobile and Auto Components Industry.

National

In addition, the amendments outline that if an approved company falls short of meeting the threshold for an increase in Determined Sales Value over the initial year’s threshold, it will not receive any incentive for that specific year. Nevertheless, eligibility for benefits can be retained in the following year if the company fulfills the threshold criteria based on a 10 percent year-on-year growth over the initial year’s threshold.


      According to the revised scheme, the PLI incentive will now be applicable for a continuous period of five financial years, commencing from the fiscal year 2023-24.

      The disbursement of the incentive is scheduled for the subsequent financial year, April 1, 2024 to March 31, 2025.

      it is emphasized that an approved applicant can avail benefits for a maximum of five consecutive financial years, concluding with the fiscal year ending on March 31, 2028 (FY28).

 

     


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