13th BRICS Education Ministers' meeting concludes with Declaration (See 'Corp Brief') IEPFA organises Stakeholder Engagement with Nodal Officers of Companies on Portal 2.0 (See 'Corp Brief') SARFAESI - Any tenancy created after issuance of notice u/s 13(2) without prior written consent of secured creditor, is void ab initio: HC National Handloom Day celebrates Tribal Weaves of India (See 'Corp Brief') SECL leads India in Scientific Mine Closure, Transforming abandoned Mines (See 'Corp Brief') IBC - RBI prudential norms stopping banks from recognising interest income on NPA accounts do not wipe out borrower's obligation to accrue & recognise interest expense in its own financial statements: NCLAT (See 'Legal Desk') Sowa-Rigpa must emerge as Globally Recognised Evidence-Based Healthcare System: Jadhav (See 'Corp Brief') Insurance Division, DFS secures 3rd Rank in Group A Category of Grievance Redressal (See 'Corp Brief') IPR - Registration of defendant's trademark does not bar passing off action where plaintiff establishes prior goodwill, misrepresentation and likely damage: HC (See 'Legal Desk') IndiaAI Mission organised AIKosh Univ Engagement Programme at Chitkara Univ (See 'Corp Brief') A&C - In international commercial arbitration seated in India, ground of ‘patent illegality' u/s 34(2A) is expressly excluded: HC (See 'Legal Desk') Comprehensive measures taken to boost digital infrastructure & cyber security: Jitin Prasada (See 'Corp Brief') Misc - A minor admitted to benefits of partnership firm is not personally liable for debts or liabilities incurred by firm during age of minority - ergo, bank communication declaring minor as wilful defaulter is invalid: HC (See 'Legal Desk') IPC showcases India's Regulatory Excellence at WHO Meeting in Nepal (See 'Corp Brief') Companies Act - Solely because a private bank carries on banking operations as scheduled bank or is bound to follow regulatory guidelines issued by the RBI, it does not acquires character of a statutory body: HC (See 'Legal Desk') GI & Beyond 2.0 Summit showcases India's GI-tagged Handloom and Handicraft Products (See 'Corp Brief') IPR - Test for 'efficacy' u/s 3(d) of Patents Act is not limited to 'therapeutic efficacy' for all substances: HC (See 'Legal Desk') CCI approves combination of many entities into InterGlobe Hotels (See 'Corp Brief') IPR - U/s 9(1)(a) of Trade Marks Act, correct legal test is whether applied mark possesses 'distinctive character', means if it is capable of distinguishing applicant's goods from those of others - YES: HC (See 'Legal Desk') House Panel deliberates on strengthening Human-Wildlife Conflict Mitigation through Technology (See 'Corp Brief') IBC - Private bank's commercial decision on debt assignment or settlement, even if regulated by RBI norms, remains private banking transaction and does not satisfy function test for writ maintainability: HC (See 'Legal Desk') PM-PRANAM Promotes Balanced Use of Fertilizer, Organic Farming (See 'Corp Brief') IPR - In absence of evidence showing acquired distinctiveness or secondary meaning, descriptive mark could not validly remain on Register: HC (See 'Legal Desk') On International Clouded Leopard Day, India strengthens Conservation through Dedicated Action Plan (See 'Corp Brief') Limitation - Single Judge rightly declined to exercise writ jurisdiction in a matter which essentially involves contractual obligations & involves disputed issues of fact: HC (See 'Legal Desk') Tete-a-tete around AI in banking sector often begins with algorithms (See CORP EINSICHT)

Print

Cabinet approves PLI schemes for solar PV, white goods worth Rs 10,738 cr

Published: Apr 07, 2021

By TIOLCORPLAWS News Service

NEW DELHI, APR 7, 2021: THE Cabinet on Wednesday approved two Production Linked Incentive (PLI) schemes for white goods and high-efficiency solar Photovoltaic (PV) cells, as part of the umbrella PLI policy for 13 sectors, of which nine have been approved.

The PLI scheme for high-efficiency solar panels will have an outlay of Rs. 4,500 crore to help India add capacity of 10,000 MW. It is expected to bring direct investment of around Rs. 17,200 crore, while generating 30,000 direct and 1.2 lakh indirect jobs in the sector. The government expects to save Rs. 17,500 crore by import substitution annually.

The scheme will be linked to the efficiency of the solar PV module, and sourcing of material from the domestic market.

The Cabinet also approved an outlay of Rs. 6,238 crore for white goods such as LED light and air conditioner, incentivising domestic production.

Incentives of 4-6 per cent will be extended on incremental sales of goods manufactured in India for a period of five years. The incentives shall be open to companies making brown field or green field investments.

The scheme is expected to be instrumental in achieving growth rates that are much higher than existing ones for the AC and LED industries, develop complete component eco-systems in India and create global champions manufacturing in India.

It is estimated that over the period of five years, the PLI Scheme will lead to incremental investment of Rs. 7,920 crore, incremental production worth Rs. 1.68 lakh crore, exports worth Rs. 64,400 crore, earn direct and indirect revenues of Rs. 49,300 crore and create 4 lakh direct and indirect employment opportunities.

The government had announced the PLI schemes for 13 sectors with an outlay of Rs. 1.97 lakh crore in Budget 2021-22, to create national manufacturing champions and generate employment.

India will see minimum production of over USD 500 billion in five years as a result of the scheme.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.