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Government notifies three schemes worth Rs 48,000 crore for electronic makers

NEW DELHI: The Ministry of Electronics and IT has notified 3 schemes to boost electronics manufacturing with incentives price greater than Rs 48,000 crore, which have been cleared by way of the Cabinet final month.

The biggest scheme -- with an outlay of Rs 40,000 crore -- will give incentives of Four-6% on incremental gross sales on cellphones and specified digital elements corresponding to Printed Circuit Boards, photopolymer motion pictures and Assembly, Testing, Marking and Packaging units, amongst others. The Production Linked Incentive (PLI) scheme will be appropriate from August 1.

According to the notification, corporations that make phones priced at Rs 15,000 and above and which make a cumulative investment of Rs 1,000 crore over four years, starting with Rs 250 crore within the first 12 months, will qualify for an incentive of 6% for the primary two years, followed by way of 5% for the next two and four% within the 5th 12 months.

Incremental gross sales of manufactured goods over the base 12 months must be Rs Four,000 crore for those corporations within the first 12 months, with gross sales totalling Rs 25,000 crore by way of the 5th 12 months. For domestic mobile phone corporations, the investment threshold is Rs 200 crore over four years and gross sales standards is Rs 5,000 crore in 5 years. For elements, it's Rs 100 crore for Four years and Rs 600 crore of gross sales in 5 years. The packages will to start with be open for four months.

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