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Cabinet nod for revised semicon policy

Pegs fiscal support at 50% of project cost; National Logistics Policy gets approval; Rs19,500-cr PLI scheme for solar space

Union Minister Anurag Thakur
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Union Minister Anurag Thakur

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New Delhi: The Cabinet on Wednesday approved modifications in the scheme for semiconductors and display manufacturing ecosystem, with uniform fiscal support of 50 per cent of project cost for all technology nodes under the ambitious programme.

Announcing the decision of the Cabinet, Union Minister Anurag Thakur said the modifications will strengthen the semiconductor scheme, thus raising capacities within the country, encouraging investments, and creating employment opportunities.

"Under modified programme, a uniform fiscal support of 50 per cent of project cost shall be provided across all technology nodes for setting up of Semiconductor Fabs," an official release said.

The Cabinet also approved a Rs19,500-crore production linked incentive (PLI) scheme on 'national programme on high efficiency solar PV modules' with an aim to attract Rs 94,000 crore investment in the sector. The initiative will create two lakh direct jobs and will reduce import substitution of about Rs1.37 lakh crore.

The approval for National Logistics Policy aims at reducing transportation cost and promoting seamless movement of goods in the country.

Prime Minister Narendra Modi last week unveiled the policy which seeks to cut transportation costs by promoting seamless movement of goods across the country.

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