The deadline for applications has been extended from April 30 to May 31. As a result, the application window will remain open until May 31, 2022. The extension was granted to allow for some adjustments to the plan that were requested by the sector.
The incentive payable shall not exceed the budgeted allotment for the scheme because it is a fund-limited scheme. Furthermore, the annual incentive payable across all product categories would be capped at '200 crore per qualified enterprise, including group companies or joint ventures.
The PLI scheme's goal is to encourage the production of specialty steel grades in India while also assisting the Indian steel industry's technological maturation.