 "used car, second-hand cars, auto demand, automobile, cars, vehicles")
The government is planning to come up with a quarterly payment mechanism under the Rs 25,938-crore auto PLI scheme to incentivise auto manufacturers, Business Standard has learnt.
At present, the provision under the Production-linked Incentive (PLI) Scheme for Automobile and Auto Component Industry is for yearly incentive payouts.
The government is considering quarterly payments after automobile manufacturers approached the Ministry of Heavy Industries (MHI) over the non-receipt of incentives for the financial year 2022-23 (FY23).
“Funds were not disbursed for FY23 because no manufacturer was able to furnish requisite documents. We are considering giving payouts quarterly, so that companies do
