The Ministry of Heavy Industries (MHI) ON December 29, 2023, issued an amendment in the Production Linked Incentive (PLI) Scheme for the Automobile and Auto Component industry (PLI-AUTO).
The following amendments have been stated:
• The sub-paragraph ‘3.3.1.1.i’ & ‘6.4.IV’ to be read as under:
Incentives under the scheme will be applicable, starting from the Financial Year 2023-24 which will be disbursed in the following Financial Year i.e. 2024-25 and so on for a total of five (05) consecutive Financial Years.
• The sub-paragraph ‘3.3.1.1.ii’’ to be read as under:
An approved applicant shall be eligible for benefits for 5 consecutive Financial Years but not beyond for the Financial Year ending March 31, 2028.
This notification will come into force from December 29, 2023.
For further details, kindly refer to the document attached.
[Notification No S.O. 5486(E)]
