Full Text
8001 GI/202 3 (1)
EXTRAORDINARY
PART II —Section 3 —Sub-section ( ii)
PUBLISHED BY AUTHORITY
No. 5253] NEW DEL HI, FRIDAY , DECEMBER 29, 2023/ PAUS HA 8, 1945
CG-DL-E-29122023-250975
2023 -24 2024 -25 604
2024 -25 2025 -26 3,150
2025-26 2026 -27 5,925
2026 -27 2027 -28 7,199
2027 -28 2028 -29 9,060
क ु ल 25,938
[फा. सं. 12(11)/2020 -AEI (21370)]
MINISTRY OF HEAVY INDUSTRIES
NOTIFICATION
(AMENDMENT)
New Delhi, the 29 th December, 2023
S.O. 5486 (E).—In partial mo dification of the Production Linked Incentive (PLI) Scheme for Automobile and
Auto Component industry (PLI -AUTO) which was notified by the Ministry of Heavy Industries vide S.O. No. 3946
(E) dated 23rd September 2021, the following amendments are made with effect from date of its publication in the
Official Gazette: -
Amendment of sub -paragraph ‘3.3.1.1.i’ & ‘6.4.IV’ to be read as under:
Incentive under the scheme will be applicable, starting from the Financial Year 2023 -24 which will be
disbursed in the fo llowing Financial Year i.e. 2024 -25 and so on for a total of five (05) consecutive Financial
Years.
Amendment of sub -paragraph ‘3.3.1.1.ii’’ to be read as under:
An approved applicant shall be eligible for benefits for 5 consecutive Financial Years but no t beyond for the
Financial Year ending 31/03/2028 .
Amendment of sub -paragraph ‘3.3.2.3.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 c rore, 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 gr owth 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 a nd 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 subsequent
years of the scheme.
Amendment of sub -paragraph ‘3.3.3.3.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 w ill 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 w hen 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 Investor companies as well as safeguard the approved applicants wh o
preferred to front load their investment, against adversities of the market demand conditions in subsequent
years of the scheme.
Amendment of ‘Table 3: Incentive Outlay’ of sub -paragraph ‘4.1’ to be read as under :
Applicable Incentive
(Financial Year) Disbursement of Incentive
(Financial Year) Total Indicative Incentive
(₹ Crore)
2023 -24 2024 -25 604
2024 -25 2025 -26 3,150
2025 -26 2026 -27 5,925
2026 -27 2027 -28 7,199
2027 -28 2028 -29 9,060
Total 25,938
[F. No. 12(11)/2020 -AEI (21370)]
HANIF QURESHI, Jt. Secy.
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and Published by the Controller of Publications, Delhi -110054.
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