Production Linked Incentive (PLI) Scheme for Specialty Steel
- July 23, 2021
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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Production Linked Incentive (PLI) Scheme for Specialty Steel
Subject: Government Schemes
Context: Recently, the Union Cabinet has approved the Production Linked Incentive (PLI) Scheme for specialty steel.
Concept:
Specialty Steel
- It is value added steel wherein normal finished steel is worked upon by way of coating, plating, heat treatment, etc to convert it into high value added steel.
- It can be used in various strategic applications like Defence, Space, Power, apart from automobile sector, specialized capital goods etc.
About Production Linked Incentive (PLI) Scheme for Specialty Steel
- The duration of the scheme will be five years i.e. from 2023-24 to 2027-28.
- The five categories of specialty steel which have been chosen in the PLI Scheme are:
Coated/Plated Steel Products
High Strength/Wear resistant Steel
Specialty Rails
Alloy Steel Products and Steel wires
Electrical Steel
- There are 3 slabs of PLI incentives, the lowest being 4 % and highest being 12% which has been provided for electrical steel (CRGO).
- Any company registered in India, engaged in manufacturing of the identified ‘specialty steel’ grades eligible to participate.