Cabinet approves PLI Scheme to reduce steel import with incentives worth Rs 6322 crores anurag thakur achs– News18 Hindi

New Delhi. The Union Cabinet has taken an important decision to reduce the import of steel. In the cabinet meeting held today, Production Linked Incentive Scheme (PLI Scheme) has been approved to reduce the import of special types of steel. Union Minister Anurag Thakur said that the PLI scheme for specialty steel will be for the next 5 years. This scheme will be of 6,322 thousand crore rupees. Also said that with the help of this investment of 40 thousand crore rupees will also come.

‘Will help in creating more than 5 lakh new jobs’
Union Minister Anurag Thakur said that with the approval of the PLI scheme for 5 years, 5.25 lakh new jobs will be created in this sector. Along with this, the production capacity of 25 metric tonnes will also be increased. Let us inform that at present the monsoon session of Parliament is going on. In such a situation, this cabinet meeting has taken place in the middle of the Parliament session. Usually the cabinet meeting is held on Wednesday, but due to Eid holiday on 21 July 2021, this meeting has been held today i.e. on 22 July 2021. In the last cabinet meeting, the central government had taken an important decision to increase the dearness allowance of central employees and dearness relief to pensioners.

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Which steel products will come under the purview of PLI scheme
According to the central government, the expansion of the PLI scheme will boost the production of high-grade specialty steel in the country. At present, such steel has to be imported in large quantities. Coated, plated steel products will be included under the scheme. Apart from this, high-strength, specialty rails, alloy steel products, steel wires and electrical steel will also come under the purview of the scheme. The central government believes that with the help of the PLI scheme, more and more foreign investment will be attracted. Let us tell you that the central government has started the PLI scheme to promote manufacturing in the country. Through this, financial support is also given to foreign companies along with special concessions on setting up and exporting units in India.

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