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Lakshya UPSC PT 2022 – Economic Lecture – 8 – Complete One Year Current Affairs – Free PDF Download

 

Semiconductor Manufacturing In India

News –

  • The Ministry of Electronics and Information Technology (MeitY) has approved a comprehensive Program for the Development of Semiconductors and Display Manufacturing Ecosystems in the country.

Initiatives taken by the government

India semiconductor Mission –

  • A specialised and dedicated “India Semiconductor Mission (ISM)” has been set up within Digital India Corporation to drive India’s  strategies for developing semiconductors and display ecosystem.
  • The scheme has been aimed at making India a global electronics
  • It will help to organize efforts for promoting semiconductors and display industry in a more structured, focused, and  comprehensive manner

Design Linked Incentive (DLI) Scheme.

  • Initiative of the Ministry of Electronics and Information (MeitY) .
  • Under this, financial incentives and design infrastructure support will be extended to domestic  companies, startups and MSMEs across various stages of  development

Fact and Figures

  • India ranks 2nd in the world in production of MMF and 6th largest producer of Technical Textile
  • Textile sector contributes 2.3% to the GDP of the
  • 100% FDI (automatic route) in the textile and apparel sector in India.

PLI Scheme for Textile

  • The scheme is for both Man Made fibre and Technical Textile
  • Tenure of the scheme is from 2025-26 to 2029-30
  • Incentive structure will depend on the investment done in Plant, Machinery and Civil Works.
  • Only manufacturing company registered in India will be eligible to participate under the scheme
  • Any person/ includes firm / company willing to invest minimum ₹300 Crore will be eligible to get 15% incentive  when they achieve a minimum of ₹600 Crore turnover
  • Any person/ includes firm / company willing to invest minimum ₹100 Crore will be eligible to get 11% incentive  when they achieve a minimum of ₹200 Crore turnover

PM MEGA  INTEGRATED TEXTILES  REGION AND APPAREL  PARK (MITRA)

  • The aim is to provide world class infrastructure facility  for the entire value-chain of  the textile industry

  • Main aim is to provide  technical,  financial and  business  support to micro  food processing  units in the

PLI scheme for  Food Processing  Industry

  • It is a central sector scheme with an outlay of 10900 crore.
  • The scheme period is from 2021-22 to 2026-27.

PLI scheme for Food Processing Industry

  • The first component relates to incentivising manufacturing of four major food product segments  Ready to Cook/ Ready to Eat (RTC/ RTE) foods  including Millets based products, Processed Fruits &  Vegetables, Marine Products, Mozzarella Cheese
  • The second component relates to support for branding and marketing abroad

Maharatna status to  Power Finance  Corporation

News –

  • of India accorded ‘Maharatna’ status to the state-owned Power Finance Corporation Ltd (PFC),  thus giving PFC greater operational and financial  autonomy

Criteria for  getting  Maharatna  Status

  • Having Navratna status
  • Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI  regulations
  • An average annual turnover of more than Rs. 25,000 crore during the last 3 years
  • An average annual net worth of more than Rs. 15,000 crore during the last 3 years
  • An average annual net profit after tax of more than Rs. 5,000 crore during the last 3 years
  • Should have significant global presence/international operations.

 

 

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