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8003 GI/202 3 (1)
EXTRAORDINARY
PART II —Section 3 —Sub-section ( ii)
PUBLISHED BY AUTHORITY
No. 5254] NEW DEL HI, FRIDAY , DECEMBER 29, 2023/ PAUS HA 8, 1945
CG-DL-E-29122023-250974
[फा. सं. 12(11)/2020 -AEI (21370)]
MINISTRY OF HEAVY INDUSTRIES
NOTIFICATION
(AMENDMENT)
New Delhi, the 29 th December, 2023
S.O. 5487 (E).—In partial mod ification of the Scheme Guidelines for the Production Linked Incentive (PLI)
Scheme for Automobile and Auto Component industry which was notified by the Ministry of Heavy Industries vide
S.O. No. 3947 (E) dated 23rd September 2021, the following amendments are made with effect from date of its
publication in the Official Gazette: -
Amendment of paragraph ‘3’ to be read as under:
Tenure of the Scheme: Incentive under the scheme will be applicable, starting from the Financial Year 2023 -
24 which will be disbur sed in the following Financial Year i.e. 2024 -25 and so on for a total of five (05)
consecutive Financial Years.
Amendment of sub -paragraph ‘10.3.1.V’ to be read as under:
In case the approved company fails to meet the threshold for increase in Determined Sales Value over the
threshold for the first year i.e. ₹125 crore, for any given year, it will not receive any incentive for that year.
However, it will still be eligible to receive the benefits under the scheme in the next year if it meets the
threshold f or that particular year calculated on the basis of 10% YoY growth over the threshold for the first
year and thereafter for 4 consecutive years from when the incentive under the scheme becomes applicable
(FY 2023 -24). This provision will provide level playi ng field to all approved companies viz. existing
Automotive and New Non -Automotive Investor companies as well as safeguard the approved applicants who
preferred to front load their investment, against adversities of the market demand conditions in subseque nt
years of the scheme.
Amendment of sub -paragraph ‘10.3.2.V’ to be read as under:
In case the approved company fails to meet the threshold for increase in Determined Sales Value over the
threshold for the first year i.e. ₹ 25 crore, for any given year, it will not receive any incentive for that year.
However, it will still be eligible to receive the benefits under the scheme in the next year if it meets the
threshold for that particular year calculated on the basis of 10% YoY growth over the threshold for the first
year and thereafter for 4 consecutive years from when the incentive under the scheme becomes applicable
(FY 2023 -24). This provision will provide level playing field to all approved companies viz. existing
Automotive and New Non -Automotive Invest or companies as well as safeguard the approved applicants who
preferred to front load their investment, against adversities of the market demand conditions in subsequent
years of the scheme.
[F. No. 12(11)/2020 -AEI (21370)]
HANIF QURESHI, Jt. Secy.
Uplo aded by Dte. of Printing at Government of India Press, Ring R oad, Mayapuri, New Delhi -110064
and Published by the Controller of Publications, Delhi -110054.
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