Govt extends deadline to apply for PLI scheme, for Specialty Steel sector

30 Jun 2022 , 10:17 AM

The government has extended the application deadline for the production-linked incentive program for specialty steel for a fourth time, this time until July 31, 2022.

Initially, producers had until March 29 to submit their applications for the PLI (Production-Linked Incentive) scheme for specialty steel advantages. Later, it was extended through April 30 and once more through May 31, 2022. It was then extended till June 30.

In accordance with a notice from the steel ministry dated June 29, “The undersigned is instructed to indicate that the deadline for applications to the PLI scheme for specialty steel should now be July 31, 2022, rather than June 30, 2022. The submission period will remain available until July 31, 2022 “.

A Rs 6,322 crore PLI program to increase the production of specialty steel in India was approved on July 22 by the Union Cabinet, which is presided over by Prime Minister Narendra Modi. The action is anticipated to bring in an extra 40,000 crore rupees worth of investment and create 5.25 lakh employment opportunities.