Question: In her budget speech of 2021 , Finance Minister announced Mitra Scheme.The Scheme is related to which sector?
a) Automobile Industry
b) Agriculture
c) Textile Industry
d) None of the above
Ans: c)
Context
- Finance minister has proposed Mega Investment Textiles Parks (MITRA) for Textile sector in her budget speech of 2021.
Facts
- The scheme will enable the textile industry to become globally competitive.
- It will also attract large investments, boost employment generation and exports.
- Scheme aims to create world class infrastructure with plug and play facilities to enable create global champions in exports.
- MITRA will be launched in addition to the Production Linked Incentive Scheme(PLI).
- Government also announced uniform deduction of the BCD rates on caprolactam, nylon chips and nylon fiber and yarn to 5 per cent.
PLI Scheme
- It is a Central Sector scheme. The scheme was notified in April 2020 for the Large-Scale Electronics Manufacturing.
- Initially launched for the domestic manufacturing of Mobile Phones and Specified Electronic Components, in the later phase, it was rolled out for the pharmaceutical ingredients and medical devices also.
- This scheme provides 4% to 6% incentive on incremental production to the eligible companies who are manufacturing goods for 5 years period.
By – Kameshwar Shukla