Union Budget 2021: Finance Minister Nirmala Sitharaman, while delivering her Union Budget speech today said that the PLI Scheme will create and nurture global champions in India while creating jobs. “This initiative will help bring scale and size in key sectors, create and nurture global champions and provide jobs to our youth,” Nirmala Sitharaman said in her Union Budget speech. The Finance Minister added that the manufacturing sector of the country of India’s size needs to grow in double digits. The government has committed nearly Rs 1.97 lakh crore over five years, for the PLI scheme.
For the growth of the manufacturing sector, the Finance Minister said that the recently announced Production Linked Incentives scheme would aid in doing so. “For a $5 trillion economy, our manufacturing sector has to grow in double digits on a sustained basis, our manufacturing companies need to become an integral part of global supply chains possess core competency and cutting edge technology. To achieve this, PLI schemes to create manufacturing global champions for Atmanirbhar Bharat have been announced for 13 sectors,” Nirmala Sitharaman said.
