The government should provide financial benefits to such areas under the PLI (Production Linked Incentive) Scheme in its upcoming budget, which can create more jobs. Deloitte said this on Sunday. This mainly includes handicrafts and leather industries etc.
In addition, Deloitte suggested that existing PLI schemes should be continued in areas where success has been achieved, such as electronics, autos and semiconductors etc.
The government had launched PLI schemes for 14 regions in 2021, including telecom, white goods, clothing, medical devices, automobiles, special steel, food products, high efficiency solar PV modules, advanced chemical cell batteries, drones and pharma Are included. A total budget of ₹ 1.97 lakh crore was fixed for these schemes.
Need to bring foreign investment
Deloitte also suggested that to improve global liquidity (when the Western central banks make their monetary policies easier), the government can increase investment size limit and lift the ban to attract more foreign investment.
Deloitte India economist Rumki Majumdar said, “Multi-brand retail and e-commerce are some areas that can benefit from it.” He further said that a major challenge would have to be revived the merchandise export (goods exports), which has decreased by 3 percent in FY24.
It further stated that by 2030, the government will have to prepare a roadmap to achieve a target of US $ 1 trillion.
Mazumdar further said, “We hope that the government will soon complete the FTA (Free Trade Agreement) talks with Oman, Peru, UK, European Union, Chile, South African Customs Union and Gulf Cooperation Council. India’s exports in these areas can be boosted. ”
Explain that Finance Minister Nirmala Sitharaman will present the annual budget for FY26 in Parliament on 1 February.