Cabinet likely to approve Rs 25,000 cr scheme for semiconductor manufacturing

Union cabinet is expected to approve a Rs 25,000-crore scheme for semiconductor manufacturing, reported ET NOW on Wednesday.

The decision on PM PRANAM scheme has likely been deferred by the cabinet, as per ET NOW sources.

The cabinet meeting is underway and the announcements are likely to be made on Wednesday afternoon.

The government has been keen on bringing semiconductors under the production-linked incentive (PLI) scheme. In May, finance minister Nirmala Sitharaman had underlined the government’s priority to incentivise and facilitate investments in India through PLI schemes, which are being expanded beyond the initial 14 sectors to include semiconductors and solar components.