Budget 2024: Will FM Sitharaman expand PLI scheme to other sectors or give it a miss?

Interim Budget: Though Finance Minister Nirmala Sitharaman has already made it clear that there won’t be any “spectacular announcement” this time, as usual, expectations are running high ahead of the interim budget. From big conglomerates to the common man, everyone is keenly looking forward to Finance Minister Nirmala Sitharaman’s budget speech, slated to be delivered on February 1.

The Modi government is known for springing surprises; thus, there could be some announcements on the PLI scheme front. This much-touted production-linked incentive (PLI) scheme was launched in the aftermath of the COVID-19 pandemic to give a big push to domestic manufacturing and to make it globally competitive in the long run. However, the primary goal of this program is to generate jobs, which India sorely needs. The government has stated that the PLI scheme could be extended to more sectors, and what would be a more opportune moment than the budget speech to announce that?