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Government will Introduce PLI 2.0 Scheme

Published on March 17, 2023
Current context: The government will introduce the second edition of Production linked incentive scheme for specialty steel to increase production. A memorandum of understanding is signed at the capital, Delhi.
Government will Introduce PLI 2.0 Scheme
  • The event was attended by the companies investing under the Rs.6322 crores scheme.
  • 27 steel companies signed 57 memorandums of understanding with Ministry of Steel at the event to develop steel products and with higher strength and wear resistance. Also to produce alloy steels and specialty steels.
  • An additional investment of Rs.30, 000crores will be done for domestic steel sector resulting to additional capacity of 25 million tonne per annum and creating new employments.
  • The union cabinet on July, 2021 has approved PLI scheme to increase production of specialty steel in India.
  • Top 5 steel manufacturing companies – TATA steel, JSW steel, JSPL, AMNS India and SAIL has been on the best qualifiers list under the PLI scheme for specialty steels.
  • Other companies selected under the PLI scheme are Gallant Metalliks, Kalayni steels, Shyam metalics flat products and Sunflag Iron and steel.

Question: 

Q.1 Government will introduce the second edition of Production linked incentive scheme for specialty steel to increase production. How many companies have signed the MoU’s with Ministry of Steel?
a. 20
b. 27
c. 30
d. 23

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