Make in India: Govt to offer production linked incentives in more sectors

The government earlier announced production linked incentives for large scale electronic goods makers for five years

The government is working on offering production linked incentives for up to five sectors to boost domestic manufacturing, a top finance ministry official said on Thursday, bolstering efforts to attract new investments in the coronavirus-stricken economy.

Asia’s third-largest economy is expected to contract by as much as 10% in the current fiscal year beginning April, some private economists’ estimate, after the outbreak crippled business and consumer activity since late March, compared to government’s earlier target of about 6% growth.

The government has announced a raft of measures including direct food subsidy to nearly 810 million people and credit guarantees of