198 India News
No Result
View All Result
  • HOME
  • VIDEOS
  • BUSINESS
  • INDIA NEWS
  • NEWS
    • INDIA USA TRADE NEWS
    • INDIA AFRICA NEWS
    • INDIA EU NEWS
    • INDIA GULF NATIONS NEWS
    • INDIA RUSSIA NEWS
    • INDIA NIGERIA NEWS
    • INDIA UK NEWS
  • POLITICAL
  • IMMIGRATION
  • TECHNOLOGY
  • EDUCATION
    • EDUCATION
    • VENTURE CAPITAL
    • JOINT VENTURE
    • INDIA UNIVERSITIES
    • 198INDIA MEDIA TRAINING
    • INDIA FUNDING OPPORTUNITIES
    • INDIA GOVERNMENT ASSISTANCE
    • INDIA PARTNERSHIP OPPORTUNITIES
    • INDIA UNTAPPED OPPORTUNITIES
    • INDIA MANUFACTURERS
    • 198TILG INDIA CEO
    • INDIA BUSINESS HELP
  • ASK IKE LEMUWA
  • CONTACT US
  • HOME
  • VIDEOS
  • BUSINESS
  • INDIA NEWS
  • NEWS
    • INDIA USA TRADE NEWS
    • INDIA AFRICA NEWS
    • INDIA EU NEWS
    • INDIA GULF NATIONS NEWS
    • INDIA RUSSIA NEWS
    • INDIA NIGERIA NEWS
    • INDIA UK NEWS
  • POLITICAL
  • IMMIGRATION
  • TECHNOLOGY
  • EDUCATION
    • EDUCATION
    • VENTURE CAPITAL
    • JOINT VENTURE
    • INDIA UNIVERSITIES
    • 198INDIA MEDIA TRAINING
    • INDIA FUNDING OPPORTUNITIES
    • INDIA GOVERNMENT ASSISTANCE
    • INDIA PARTNERSHIP OPPORTUNITIES
    • INDIA UNTAPPED OPPORTUNITIES
    • INDIA MANUFACTURERS
    • 198TILG INDIA CEO
    • INDIA BUSINESS HELP
  • ASK IKE LEMUWA
  • CONTACT US
No Result
View All Result
198 India News
No Result
View All Result
Home INDIA MANUFACTURERS

DPIIT, Auto News, ET Auto

by Gias
August 17, 2021
3 min read
0
Buy JNews
ADVERTISEMENT


In a set of FAQs on PLI scheme for white goods - ACs and LED lights, the Department for Promotion of Industry and Internal Trade (DPIIT)said that midway exit by a selected applicant without fulfilling investment criteria thwarts one of the selection criteria of maximizing gross value added (GVA) to economy, as also deprive selection opportunity to another eligible firm under the scheme.
In a set of FAQs on PLI scheme for white items – ACs and LED lights, the Division for Promotion of Business and Inner Commerce (DPIIT)mentioned that halfway exit by a particular applicant with out fulfilling funding standards thwarts one of many choice standards of maximizing gross worth added (GVA) to financial system, as additionally deprive choice alternative to a different eligible agency below the scheme.

New Delhi: An organization availing advantages of manufacturing linked incentive (PLI) scheme, if for any cause, fails to make full dedicated funding and exits halfway should refund the incentives taken together with curiosity and its financial institution assure will even be invoked, in accordance with FAQs launched by the DPIIT on Monday.

In a set of FAQs on PLI scheme for white items – ACs and LED lights, the Division for Promotion of Business and Inner Commerce (DPIIT)mentioned that halfway exit by a particular applicant with out fulfilling funding standards thwarts one of many choice standards of maximizing gross worth added (GVA) to financial system, as additionally deprive choice alternative to a different eligible agency below the scheme.

“Due to this fact, if any chosen applicant declines the supply of approval below the scheme at any stage or exits the scheme with out making full dedicated funding for causes in any way; in such case, the financial institution assure furnished by the chosen applicant shall be invoked as per the provisions…

“… the applicant shall need to refund the inducement availed by it below the scheme until such date together with curiosity calculated on the prevailing three 12 months SBI MCLR compounded yearly,” the FAQs mentioned.

The DPIIT clarified on a question regarding PLI disbursement in case funding schedules should not met attributable to numerous dynamics and exterior elements and what would occur if a particular applicant exits halfway.

The scheme for white items, notified in April, would supply monetary incentive to spice up home manufacturing and appeal to giant investments within the white items manufacturing worth chain. It was accredited with a budgetary outlay of Rs 6,238 crore. It will likely be applied over 2021-22 to 2028-29.

It has additionally clarified that in case an applicant doesn’t meet standards of threshold funding and internet incremental gross sales for any given 12 months, it might not be eligible for disbursement of incentive for that individual monetary 12 months.

Nonetheless, it added that the applicant won’t be restricted from claiming incentive for subsequent years through the tenure of the scheme, offered eligibility standards of cumulative dedicated funding and threshold internet incremental gross sales are met for such subsequent monetary years.

Additional it acknowledged that LLPs should not coated below the Firms Act, 2013, they can not avail the advantages below this scheme, apart from an applicant which is availing advantages below every other PLI scheme of the federal government for a similar product(s).

Moreover, value-added resellers additionally don’t qualify below the scheme, be.

Concerning when will the PLI be disbursed, it mentioned that precise disbursement of the PLI for a respective 12 months will likely be subsequent to that 12 months.

“For instance, if the applicant chooses preliminary funding interval as 1st April 2021 to thirty first March 2022 then topic to fulfilling the situations of cumulative threshold funding as much as FY 2021-22 over base 12 months and threshold incremental gross sales of manufactured items over the bottom 12 months in FY 2022-23, PLI will likely be disbursed in FY 2023-24,” it added.

Additionally Learn:

The Group is anticipated to announce by the tip of this fiscal its plan to arrange a gigafactory for manufacturing ACC batteries below the PLI scheme which has an estimated outlay of INR 18,100 crore.

RELATED POSTS

From Today, Get Off Best Bus And Ride E-bike To Reach Office, Auto News, ET Auto

GST compensation cess levy extended till March 2026, Auto News, ET Auto

Michael Patra, Auto News, ET Auto





Source link

Tags: AutoDPIITNews
ShareTweet
Previous Post

Taliban declares ‘amnesty,’ urges women to join government; observers skeptical

Next Post

Nifty: Tech View: NIfty50 eyes more gains as it takes out 16,600 level

Related Posts

INDIA MANUFACTURERS

From Today, Get Off Best Bus And Ride E-bike To Reach Office, Auto News, ET Auto

June 25, 2022
INDIA MANUFACTURERS

GST compensation cess levy extended till March 2026, Auto News, ET Auto

June 25, 2022
INDIA MANUFACTURERS

Michael Patra, Auto News, ET Auto

June 25, 2022
INDIA MANUFACTURERS

Parameswaran Iyer appointed as Niti Aayog CEO, Auto News, ET Auto

June 24, 2022
INDIA MANUFACTURERS

TN CM launches Advanced Manufacturing System Centre, Industry 4.0 readiness survey, Auto News, ET Auto

June 25, 2022
INDIA MANUFACTURERS

Deputy Gov Patra, Auto News, ET Auto

June 24, 2022
Next Post

Nifty: Tech View: NIfty50 eyes more gains as it takes out 16,600 level

Battlegrounds Mobile India Kicks Off Lobby Screenshot Contest, Bans Over 181,000 Accounts for Hacking

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result

Recent Posts

  • Fact Check: How true is this claim about FASTag scam? Viral Video
  • US President Joe Biden signs first significant gun control law in decades- The New Indian Express
  • As Apple is expected to announce a headset in January and Meta slows VR investment, a look at opportunities for the VR supply chain and competing headset makers (Ming-Chi Kuo/Medium)
  • Thousands march in Munich to demand G7 action on poverty and climate By Reuters
  • shinde: My fight is for rescuing Sena from clutches of ‘python of MVA,’ says Eknath Shinde
  • Adorable baby leopard cub nursed back to help – thanks to his ‘mum’ teddy bear – World News
  • Inflation sparks global wave of protests for higher pay, aid
  • FOB near St. Ann’s School inaugurated
  • Year’s Communications losers lead week’s rebound: Roblox, Twilio, Roku gain (NYSE:RBLX)
  • Russia fires volley of missile strikes at targets across Ukraine
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2021 198 India News.
All Rights Reserved.

No Result
View All Result
  • HOME
  • VIDEOS
  • BUSINESS
  • INDIA NEWS
  • INDIA USA TRADE NEWS
  • INDIA AFRICA NEWS
  • INDIA EU NEWS
  • INDIA GULF NATIONS NEWS
  • INDIA RUSSIA NEWS
  • INDIA NIGERIA NEWS
  • INDIA UK NEWS
  • POLITICAL
  • IMMIGRATION
  • TECHNOLOGY
  • EDUCATION
  • VENTURE CAPITAL
  • INDIA JOINT VENTURE NEWS
  • INDIA UNIVERSITIES
  • 198INDIA MEDIA TRAINING
  • INDIA MANUFACTURERS
  • INDIA BUSINESS HELP
  • 198TILG INDIA CEO
  • INDIA FUNDING OPPORTUNITIES
  • INDIA PARTNERSHIP OPPORTUNITIES
  • INDIA GOVERNMENT ASSISTANCE
  • INDIA UNTAPPED OPPORTUNITIES
  • ASK IKE LEMUWA
  • CONTACT US

Copyright © 2021 198 India News.
All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In