The Government of India, on January 2022, approved the Production Linked Incentive (PLI) Scheme National programme on Advanced Chemistry Cell (ACC) Battery storage with a budgetary outlay of ____________.

Correct option is D

The correct answer is (D)   ​Rs. 18,100 crore

The Government of India has allocated ₹18,100 crore to the Production Linked Incentive (PLI) Scheme under the "National Programme on Advanced Chemistry Cell (ACC) Battery Storage."

This program aims to produce 50 Gigawatt hours (GWh) of ACC, enhancing India's industrial capacity. The key objectives include:

• Increasing domestic value addition.
• Making Indian battery manufacturing globally competitive by lowering production costs.The program is designed to focus on achieving results rather than being specific to any particular battery technology.

Information booster:

PLI (Production Linked Incentive) Scheme:

The Production Linked Incentive (PLI) Scheme was introduced by the Indian government in March 2020 to promote domestic manufacturing and reduce import dependency. Its key goals are:

• Providing incentives to companies for incremental sales of products made in India.
• Attracting foreign investment to set up manufacturing units in India.
• Encouraging local manufacturers to expand their operations.

Features of the Scheme

• Incentives are based on incremental sales from domestic production.
• It is implemented by the respective ministries and departments.
• The scheme covers sectors like automobiles, pharmaceuticals, IT hardware (laptops, mobile phones, and telecom equipment), white goods, chemical cells, food processing, and more.
• It supports initiatives like Smart City and Digital India by providing low-cost indigenous raw materials.

Benefits

• Encourages local industries and reduces reliance on imports.
• Supports the creation of jobs and skilled workforce, as manufacturing is labor-intensive.
• Strengthens India's position as a global manufacturing hub.