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Under which scheme, government has approved 61 applications of companies, including Ginni Filaments and Arvind Ltd with an investment potential of over Rs 19,000 crore?
The correct answer is Production-linked incentive (PLI) scheme.The government has approved 61 applications of companies, including Ginni Filaments, Kimberly Clark India Pvt ltd, and Arvind Ltd, with an investment potential of over Rs 19,000 crore.They have been approved under the production-linked incentive (PLI) scheme for textiles.The proposed total investment expected from the applicants is Rs 19,077 crore and a projected turnover is Rs 184,917 cr.Additional Information?Production Linked Incentive or PLI scheme is a scheme that aims to give companies incentives on incremental sales from products manufactured in domestic units.PLI scheme was launched to accelerate sustainable development goals.The scheme invites foreign companies to set up units in India, however, it also aims to encourage local companies to set up or expand existing manufacturing units and also to generate more employment and cut down the countrys reliance on imports from other countries.It was launched in April 2020, for the Large Scale Electronics Manufacturing sector, but later towards the end of 2020 was introduced for 10 other sectors.This scheme was introduced in line with Indias Atmanirbhar Bharat campaign.
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