Interim budget: India's Production-Linked Incentive (PLI) scheme, launched in 2020, aims to boost manufacturing, decrease imports, and increase exports. While critics, including former RBI governor Raghuram Rajan, question its effectiveness, the Commerce and Industry Ministry reports over Rs 95,000 crore invested and 746 approved applications till November 2023. The proposed industrial policy seeks to enhance competitiveness and identify areas of cost advantage over China.
