Union Cabinet has approved incentives worth Rs 2 trillion to boost India's manufacturing and export capabilities

New Delhi: In the Cabinet chaired by Prime Minister Narendra Modi on Wednesday, the Cabinet has decided to give a production-based incentive of about two lakh crore rupees. Union Minister Prakash Javadekar and Finance Minister Nirmala Sitharaman informed about the cabinet decisions.

Union Minister Prakash Javadekar said the Union Cabinet has approved the PLI scheme for 10 key sectors to enhance India's manufacturing capabilities and increase exports. This scheme will make Indian manufacturers globally competitive, attract investment and increase exports. Javadekar said the government will give production-based incentives in the areas of production. This amount will be two lakh crore rupees.