Govt plans production-linked incentives for 4-5 sectors to boost manufacturing

India is working on offering production linked incentives for 4-5 sectors to boost manufacturing in the country, a top finance ministry official said on Thursday.

The incentives would be offered to sectors to push manufacturing and help those that have been pushed to the brink, Tarun Bajaj, economic affairs secretary at the Ministry of Finance, told a virtual conference, without providing more detail.

The conference was organised by the Federation of Indian Chambers of Commerce and Industry (FICCI).

Earlier this month, the government announced production linked incentives for large scale electronic goods manufacturers for five years, to boost manufacturing and attract investments in mobile phone manufacturing and electronic component units.

Also read: Coronavirus: India's GDP to contract 6% in FY21, says DBS