PLI for auto sector sees investment proposals worth Rs 67K cr: Eco Survey

The production linked incentive scheme (PLI) for automobile and auto components has so far attracted a proposed investment of Rs 67,690 crore, said Economic Survey 2023-24 tabled in Parliament on Monday.

A capital of Rs 14,043 crore has been invested till end-March 2024, it stated.

Applicants have proposed employment generation of 1.48 lakh, against which 28,884 of jobs have been generated till March 31, 2024, the Economic Surevy 2023-24 stated.

So far 85 applicants have got approval under the scheme, it noted.

The PLI scheme for automobile and auto components has a budgetary outlay of Rs 25,938 crore from FY23 to FY27.

The scheme has been sub-divided into champion OEM incentive scheme and component champion incentive scheme.

Besides, the government has approved the National Programme on Advanced Chemistry Cell (ACC) Battery Storage in May 2021 with a budgetary outlay of Rs 18,100 crore.

The growth in the value of domestic production and consumption of automotive parts moderate