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Consider the following statements in the context of Production Linked Incentive Scheme:
- It aims to invite foreign investors to set up their manufacturing units in India.
- It promotes the local manufacturers to expand their units and generate employment.
- It provides cash subsidies to companies as a percentage of incremental sales.
Which of the statements given above are correct?
- a)2 and 3 only
- b)1 and 3 only
- c)1 and 2 only
- d)1, 2 and 3
Correct answer is option 'D'. Can you explain this answer?
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Consider the following statements in the context of Production Linked ...
Production Linked Incentive Scheme:
The Production Linked Incentive (PLI) Scheme is a flagship initiative of the Government of India aimed at promoting domestic manufacturing and attracting foreign direct investment (FDI) in key sectors. It provides financial incentives to companies based on their incremental sales, with the objective of boosting production, employment generation, and export competitiveness.
Statement Analysis:
Let's analyze each statement given in the question to determine their correctness:
Statement 1: It aims to invite foreign investors to set up their manufacturing units in India.
This statement is correct. The main objective of the PLI Scheme is to attract foreign investors to establish their manufacturing units in India. By providing incentives and subsidies, the government aims to create a favorable environment for foreign companies to invest in India and contribute to the country's manufacturing sector.
Statement 2: It promotes local manufacturers to expand their units and generate employment.
This statement is also correct. The PLI Scheme not only targets foreign investors but also encourages local manufacturers to expand their existing units. By providing incentives based on incremental sales, the scheme incentivizes local manufacturers to increase their production capacity, create more jobs, and contribute to the country's economic growth.
Statement 3: It provides cash subsidies to companies as a percentage of incremental sales.
This statement is correct as well. The key feature of the PLI Scheme is the provision of cash subsidies to companies based on their incremental sales. The subsidies are provided as a percentage of the additional sales made by the companies. This serves as a financial incentive for companies to increase their production and sales, leading to higher revenues and profitability.
Conclusion:
All three statements given in the question are correct. The PLI Scheme aims to attract foreign investors to set up manufacturing units in India, promotes local manufacturers to expand their units and generate employment, and provides cash subsidies to companies based on their incremental sales. Through this scheme, the government intends to boost manufacturing, create employment opportunities, and enhance the competitiveness of Indian industries.
The Production Linked Incentive (PLI) Scheme is a flagship initiative of the Government of India aimed at promoting domestic manufacturing and attracting foreign direct investment (FDI) in key sectors. It provides financial incentives to companies based on their incremental sales, with the objective of boosting production, employment generation, and export competitiveness.
Statement Analysis:
Let's analyze each statement given in the question to determine their correctness:
Statement 1: It aims to invite foreign investors to set up their manufacturing units in India.
This statement is correct. The main objective of the PLI Scheme is to attract foreign investors to establish their manufacturing units in India. By providing incentives and subsidies, the government aims to create a favorable environment for foreign companies to invest in India and contribute to the country's manufacturing sector.
Statement 2: It promotes local manufacturers to expand their units and generate employment.
This statement is also correct. The PLI Scheme not only targets foreign investors but also encourages local manufacturers to expand their existing units. By providing incentives based on incremental sales, the scheme incentivizes local manufacturers to increase their production capacity, create more jobs, and contribute to the country's economic growth.
Statement 3: It provides cash subsidies to companies as a percentage of incremental sales.
This statement is correct as well. The key feature of the PLI Scheme is the provision of cash subsidies to companies based on their incremental sales. The subsidies are provided as a percentage of the additional sales made by the companies. This serves as a financial incentive for companies to increase their production and sales, leading to higher revenues and profitability.
Conclusion:
All three statements given in the question are correct. The PLI Scheme aims to attract foreign investors to set up manufacturing units in India, promotes local manufacturers to expand their units and generate employment, and provides cash subsidies to companies based on their incremental sales. Through this scheme, the government intends to boost manufacturing, create employment opportunities, and enhance the competitiveness of Indian industries.
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Consider the following statements in the context of Production Linked Incentive Scheme: It aims to invite foreign investors to set up their manufacturing units in India. It promotes the local manufacturers to expand their units and generate employment. It provides cash subsidies to companies as a percentage of incremental sales.Which of the statements given above are correct?a)2 and 3 onlyb)1 and 3 onlyc)1 and 2 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer?
Question Description
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Consider the following statements in the context of Production Linked Incentive Scheme: It aims to invite foreign investors to set up their manufacturing units in India. It promotes the local manufacturers to expand their units and generate employment. It provides cash subsidies to companies as a percentage of incremental sales.Which of the statements given above are correct?a)2 and 3 onlyb)1 and 3 onlyc)1 and 2 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements in the context of Production Linked Incentive Scheme: It aims to invite foreign investors to set up their manufacturing units in India. It promotes the local manufacturers to expand their units and generate employment. It provides cash subsidies to companies as a percentage of incremental sales.Which of the statements given above are correct?a)2 and 3 onlyb)1 and 3 onlyc)1 and 2 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements in the context of Production Linked Incentive Scheme: It aims to invite foreign investors to set up their manufacturing units in India. It promotes the local manufacturers to expand their units and generate employment. It provides cash subsidies to companies as a percentage of incremental sales.Which of the statements given above are correct?a)2 and 3 onlyb)1 and 3 onlyc)1 and 2 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer?.
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