Extended until May 31, the deadline for submitting the request for incentives to the production of steel linked to production

Extended until May 31, the deadline for submitting the request for incentives to the production of steel linked to production

Initially, March 29 was the last date for manufacturers to apply for the benefits under the PLI (Production-Linked Incentive) scheme for speciality steel. It was later extended till April 30. “…the application window (for scheme) will be kept open up till May 31, 2022,” according the steel ministry notification dated April 28.

According to an official statement, the government has extended the deadline for submitting applications under the production-linked incentive plan for specialty steel until May 31. For the second time, the deadline has been extended.

Earlier, an official in the ministry had told PTI that the government was considering modifications in the PLI scheme for speciality steel after steel makers raised certain concerns. The government is working on a uniform incentive on the production of speciality steel and considering inclusion of more grades, especially those used in the defence sector, to the scheme, the official had said.

On July 22 last year, the Union Cabinet chaired by Prime Minister Narendra Modi had approved a Rs 6,322-crore PLI scheme to boost the production of speciality steel in the country. The move is expected to attract an additional investment of about Rs 40,000 crore and create 5.25 lakh job opportunities.

Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
HP is updating its Envy and Specter laptop lines for 2022
HP is updating its Envy and Specter laptop lines for 2022
The Spectre X360 13.5-inch model starts at $1249.99 while the 16-inch model starts at $1649.99. The Envy x360 convertible laptops are all about battery life ...
Indian steelmakers are being penalized in Europe over an export tax
Indian steelmakers are being penalized in Europe over an export tax
Sharma said Indian steelmakers have about 2 million tonnes in pending export orders, mostly to Europe, which are stuck in ports or various stages of ...
This July, the LOST EPIC will be released for PS5
This July, the LOST EPIC will be released for PS5
Developed by Team Earth Wars and One or EIGHT (which is also the publisher of the game) had its first major update in Early Access on May 21st. Have you seen ...
In one test, cell phones ring with an emergency alarm
In one test, cell phones ring with an emergency alarm
Don’t worry though – tonight’s alert was just the National Emergency Management Agency (Nema) testing what’s known as the emergency mobile alert system. “The ...
According to a source, Apple is trying to increase production outside China because of Beijing's zero covid rules
According to a source, Apple is trying to increase production outside China because of Beijing’s zero covid rules
Throughout the COVID-19 pandemic, Apple suppliers such as Foxconn have been forced to shut down due to rising cases. Earlier this month, Quanta Computer ...
Tata Motors expects the domestic PV industry to exceed FY19 volumes this fiscal year
Tata Motors expects the domestic PV industry to exceed FY19 volumes this fiscal year
The auto major also listed increase in commodity prices as a significant factor that could have a bearing on its profitability in the ongoing fiscal. Tata ...
Today Only, Save $265 On This Powerful, Portable Dell 2-in-1 Laptop
Today Only, Save $265 On This Powerful, Portable Dell 2-in-1 Laptop
Dell is one of the best laptop brands because of its powerful and stylish products, which is why Dell laptop deals like this offer for the Dell Inspiron 14 ...
South Indian Mills Association welcomes removal of anti-dumping duties on spandex yarn
South Indian Mills Association welcomes removal of anti-dumping duties on spandex yarn
The removal of duties would create a level-playing field for the Indian textile industry in the international market and also enable it to import high ...
Russia will strengthen western flank in response to potential NATO expansion
Russia will strengthen western flank in response to potential NATO expansion
“The United States and NATO are stepping up operational and combat training near our borders,” Shoigu added on Friday during a meeting of the Defence ...
Twitter unwinds reverse chronological start timeline for app developers
Twitter unwinds reverse chronological start timeline for app developers
“This functionality is important to numerous developer use-cases and we will continue to prioritise innovation and functionality that allows you to build ...
Show next
We will be happy to hear your thoughts

Leave a reply

Compsmag - Latest News In Tech and Business
Logo