The Central government is making adjustments to certain production-linked incentive (PLI) schemes that have not garnered sufficient interest. Nevertheless, the government remains optimistic about the overall response to these incentives and anticipates a significant increase in investments during this fiscal year.

"We expect much larger disbursement numbers starting from this year, reaching a minimum of Rs 13,000 crore. The timeline for exhaustion is uncertain, but a substantial portion is projected to be utilized. Any unutilized funds are being considered for allocation to other PLI schemes or for the restructuring of existing ones," stated Rajesh Kumar Singh, Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT).

Singh noted that PLI schemes targeting sectors such as medical devices, pharmaceuticals, food processing, telecom, drones, and white goods have been performing well, as he shared with reporters on Friday. He also revealed that certain PLI initiatives are undergoing adjustments and refinements due to under-subscription, without delving into specifics regarding the sectors facing this challenge.

Originally, the government had earmarked Rs 1.97 lakh crore for PLIs across 14 sectors. Out of these, 733 applications have gained approval, resulting in actual investments totaling Rs 78,000 crore.

"Through these schemes, sales exceeding Rs 6 lakh crore have been achieved, generating employment opportunities for approximately 4 lakh individuals. Notably, exports have achieved significant success, particularly within the mobile sector, contributing an impressive Rs 2.65 lakh crore until FY23," Singh elaborated, highlighting the export accomplishments.

Approximately Rs 2,900 crore has been disbursed thus far. Singh emphasized that, for now, the government's primary focus lies on attracting investments and commencing production, hence current disbursement levels aren't a cause for concern.

Simultaneously, the DPIIT is preparing to release about 60 quality control orders (QCOs) this year, with four of them likely to be enacted in the coming days. "In the next few days, we will introduce four additional significant categories, including cookware and utensils, fire extinguishers, domestic gas stoves compatible with PNG, and electric ceiling-type fans," explained another official.

Notably, recent approvals encompassed seven QCOs related to items such as smart meters, welding rods and electrodes, bolts, nuts and fasteners, compressed wood laminates treated with resin, portable water bottles, insulated flasks and containers, as well as flame-producing lighters.

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