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Govt. has received Rs 1.13-lakh crore electronic manufacturing proposals

Govt. has received Rs 1.13-lakh crore electronic manufacturing proposals

NEW DELHI: The government today said it has received proposals worth Rs 1.13 lakh crore in the electronics manufacturing segment from major brands under the modified special incentive package scheme (M-SIPS).

“So far, M-SIPS, DeitY, has received 156 proposals with investment of over Rs 1 lakh 13 thousand crore. Many major well-known brands have submitted their applications under this scheme to avail the benefits,” Telecom Minister Ravi Shankar Prasad said in his blog post today on Digital India – The Vision and the Mission.

M-SIPS has been extended till July 2020, which was earlier valid till July 2017.

The scheme offers capital subsidies to large investments in electronics manufacturing and system design.

Prasad said the government has set up the electronic development fund under the Canbank Venture Capital Fund to support venture capital funds, which in turn will fund start-ups.

Furthermore, to support creation of world-class infrastructure, in-principle approval to 18 clusters and final approval to 5 have been accorded, he said.

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The government has also launched Visvesvaraya PhD scheme in electronics to encourage research and development for developing Indian products. The scheme, according to the blog, so far has supported 1,436 PhDs, in addition to 11 Young Faculty Research Fellowships.

“The Digital India Programme was presented to the Union Cabinet on August 20, 2014 and was formally launched by the Prime Minister on July 1, 2015… Several initiatives under the programme have been implemented and many are under implementation,” Prasad added.

He said the India BPO Promotion Scheme under the initiative will create jobs for some 1,45,000 people.

About common service centres (CSCs) which offer government services on the Internet to people in rural areas, he said that in the last 18 months, CSCs operating as front-end service delivery outlets has increased to 1.44 lakh, from 1.34 lakh.

The minister said thirteen new government services have been approved under mission mode projects (MMPs).

These MMPs include financial inclusion, rural development, social benefits, e-Sansad, e-Vidhaan, agriculture 2.0, roads and highways information system (RAHI), central armed para military forces (CAPF), women and child development, national mission on education through ICT, national GIS, e-Bhasha and urban governance.

Monday, November 30, 2015
By: ET

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