“Now that pendency has come down. Lot of improvement is there. There is a relief in this for those companies. The Ministry of Home Affairs has taken action pro-actively. In the last two months, things have improved a lot,” the official said.
A portal to facilitate these business visas was started to streamline the process.
The PLI (production linked incentive scheme) scheme was announced in 2021 for 14 sectors, including telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones, and pharma with an outlay of Rs 1.97 lakh crore.
When asked about PLI disbursement, the official said that at present it is “low”, but expressed hope that the disbursement will pick up in the coming months.
The official added that despite low disbursals, investments worth about Rs 1.5 lakh crore have come in plant and machinery and the PLI firms have exported goods worth Rs four lakh crore. “Disbursement is low, but it will pick up, I am sure,” the official said. Settling PLI claims quarterly is anticipated to boost the performance and sentiment of applicants by improving cash flow, faster disbursement of incentives and enhancement in the efficiency of fund utilisation.
In 2023-24, Rs 6,800 crore was disbursed to PLI beneficiaries.
