Cabinet approves Rs 10,000-cr incentive for electronic manufacturing

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1.Cabinet also approved 10,000-crore rupees incentive for electronic manufacturing by March 2018. IT Minister Ravishankar Prasad said, it will help moving towards the goal of ‘Net Zero imports’ in electronics by 2020.
2.Mr Prasad said, under Modified Special Incentive Scheme, investors in electronics manufacturing can apply till March 2018.
3.He said, the scheme has boosted electronics manufacturing in India in last two years. The incentives will be available for investments made within 5 years from the date of approval of the project.
4.Approvals will normally be accorded to eligible applications within 120 days of submission of the complete application.
5.A unit receiving incentives under the scheme, will provide an undertaking to remain in commercial production for a period of at least 3 years.
6.The Minister informed that 42 new mobile phone manufacturing units have come in India in last 2 years and investments have increased to 1.26 lakh Crore rupees.
Source : news on air


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