Budget 2022: PLI schemes in 14 sectors to help create 60 lakh new jobs, says FM

Finance Minister Nirmala Sitharaman in her fourth Union Budget speech for the financial year 2022-2023 said that the Modi government's product-linked incentive (PLI) scheme in 14 sectors will help in creating over 60 lakh new jobs as well as additional new production of Rs 30 lakh crore. 

Speaking in the Parliament during the Budget Session on Tuesday, Sitharaman also added that the focus of the current Budget will be around PM Gati Shakti, Inclusive Development, Productivity Enhancement, Sunrise Opportunities, Energy Transition, Climate Action, Financing of investments. 

She also said that a scheme for design-led manufacturing will be launched to build a strong ecosystem for 5G as part of PLI scheme. The Finance Minister in the Union Budget also announced an additional allocation towards the solar PLI scheme.

"To facilitate domestic manufacturing for the ambitious goal of 280 GW solar power by 2030, additional allocation of Rs. 19,500 crore to be made for PLI for manufacturing of high-efficiency modules, priority to fully integrate units from polysilicon to solar PV modules," she said. As part of the PLI scheme, Union Budget 2022-23 has proposed to launch a scheme for design-led manufacturing to build a strong ecosystem for 5G.

Sitharaman, who in her maiden Budget presentation in 2019 shunned the long-standing practice of carrying the speech and Budget document in a briefcase in favour of a 'bahi-khata' holding the papers, used a handheld tablet to read her speech on the last occasion on February 1, 2021.