New Delhi: Government has extended the deadline for submitting applications under the production-linked incentive plan for specialty steel until May 31, according to an official statement.

 For the second time, the deadline has been extended. The deadline for producers to apply for advantages under the Production Linked Incentive (PLI) scheme for speciality steel was originally March 29. Later, it was extended till April 30.

According to a steel ministry statement dated April 28, "the application window (for the programme) would be kept open until May 31, 2022." Earlier, a ministry official said that the government was mulling changes to the PLI scheme for specialty steel after steel producers expressed concerns. The  official said, the government is working on a standard incentive for the manufacture of specialty steel and is considering adding other classes to the plan, particularly those utilised in the defence sector.

The Union Cabinet, chaired by Prime Minister Narendra Modi, approved a Rs 6,322-crore PLI scheme to enhance speciality steel manufacturing in the country on July 22 of last year. The move is projected to bring in an additional Rs 40,000 crore in investment and create 5.25 lakh jobs.