Meity gets lion’s share of PLI scheme and semiconductor spending

The Ministry of Electronics and Information Technology (Meity) has received the lion’s share of 62 per cent of the total allocation of Rs 21,085 crore set aside in the Union Budget 2024-25 (FY25) for two flagship projects aimed at enhancing manufacturing and Make in India initiatives.

The two schemes also include the much-vaunted Production Linked Incentive (PLI) Scheme, which now covers 16 sectors from 14, including toys, footwear and leather.

The second plan is the Modified Semiconductor and Display Development Program, which provides incentives for companies to set up silicon and interconnect fabrication (fab), display manufacturing,