Union Budget 2023: PLI, R&D tops wishlist of hardware companies

Budget for 2023-24 is scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1. The government is likely to extend fiscal incentives new industries in the forthcoming budget as it looks to expand production linked incentive (PLI) scheme to cover more high-employment potential sectors. The scheme aims to make domestic manufacturing globally competitive and create global champions in manufacturing. It is specifically designed to boost domestic manufacturing in sunrise and strategic sectors, curb cheaper imports and reduce import bills and improve cost competitiveness of domestically manufactured goods. Little surprising that PLI scheme finds mention in wishlist of all hardware and accessory makers in the country.