Page 22 - NIS English 16-28 Feb 2022

Union Budget | Industry-Manufacturing

INDUSTRY-MANUFACTURING

BOOSTER DOSE OF HOPE

The manufacturing sector, which contributes significantly to the
economy, has got a new 'booster dose' of budget expectations.
While the target is to increase production by Rs 30 lakh crore through
Performance Linked Incentive (PLI) in 14 sectors, the Emergency Credit

Line Guarantee Scheme has been extended till March 2023 to support
the MSME sector.

According to the economic
61,400 Introduction of 5G for Better
survey

Connectivity and High Speed

startups are registered in Network in the country
the country

he PLI scheme launched to achieve the goal Scheme. 5G spectrum will be auctioned in the year
of self-reliant India has received a very good 2022. With its introduction, the development will
Tresponse. In her budget speech, Finance get a boost which will open up new employment
Minister Nirmala Sitharaman said that this scheme opportunities and encourage research. One Nation
has helped a lot in achieving the objective of One Registration facility is being introduced for ease
AatmaNirbhar Bharat. This will create 60 lakh of doing business. At the same time, the market of
employment opportunities in the next five years. electric vehicles in the country is growing at the
Also, it has the potential to increase production by rate of more than 50 percent annually. The Finance
an additional Rs 30 lakh crore. The PLI scheme has Minister has announced a battery swapping policy
received excellent responses in 14 sectors. The for electric vehicles to make long-distance travel
government is all set to launch a scheme for design- more comfortable. The swapping facility will allow
led manufacturing to build a strong ecosystem for riders to exchange a worn-out battery with a fully-
5G as part of the Production Linked Incentive (PLI) charged one for a fee at a battery station.
20 New India Samachar February 16-28, 2022