Union Cabinet to meet today via video conferencing

A meeting of the Union Cabinet is scheduled to be held on Tuesday via video-conferencing.

The agenda of the meeting is yet to be known.

In the last meeting held on February 24, the Union Cabinet chaired by Prime Minister Narendra Modi approved the Production Linked Incentive (PLI) scheme for IT hardware and for pharmaceuticals over a period of Financial Year 2020-21 to 2028-29.

The scheme for IT Hardware proposes a production-linked incentive to boost domestic manufacturing and attract large investments in the value chain of IT Hardware.

According to a release by the Cabinet, the scheme will extend an incentive of 4 per cent to 2 per cent/1 per cent on net incremental sales (over base year i.e. 2019-20) of goods manufactured in India and covered under the target segment, to eligible compes, for a period of four (4) years. It is likely to benefit 5 major global players and 10 domestic champions in the field of IT Hardware manufacturing including Laptops, Tablets, All-in-One PCs, and Servers.

( With inputs from ANI )