Quick Summary
Finance Minister Nirmala Sitharaman, addressing the Southern India Chamber of Commerce and Industry in Chennai on Thursday, called on Indian industries to invest in expanding their capacity to meet India's growing needs. She emphasized the government's support through production-linked incentives and the corporate tax rate cut since 2019, encouraging businesses to seize this opportunity. Sitharaman highlighted that credit availability is no longer a constraint, positioning India as a leader in
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FAQ :
The Finance Minister urged Indian industries to invest in expanding their capacity to meet India's growing needs.
The government offers support through production-linked incentives (PLI) and a reduced corporate tax rate, which was cut in 2019.
Industrial investment was slow to pick up after the 2019 corporate tax cut due to the onset of the Covid-19 pandemic, which delayed recovery.
The government has allocated Rs 1.95 trillion to boost production-linked incentives across 14 sectors.
Yes, three Employment Linked Incentive schemes announced in the Union Budget 2024-25 aim to create jobs and skill opportunities for 410 million youth over five years, with a central outlay of Rs 2 lakh crore.
No, the Finance Minister dismissed rumors of tension over GST, reaffirming that the federal structure ensures cooperation between the Centre and states for development.
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