The government has released Rs 2,874.71 crore to the beneficiaries of the production-linked incentive (PLI) scheme till March 31. Majority of the beneficiaries are from eight sectors like electronics, telecom, pharma and food processing, a senior official said on Wednesday, adding that the next two-three years will be crucial for projects to move at a fast pace.

The Union Cabinet today approved provisions for Narendra Modi government's ambitious National Green Hydrogen Mission for Rs 19,774 crore. The government plans to use the allocation for a special PLI scheme to set up a manufacturing base for electrolysers and other green hydrogen equipment. India has successfully given a boost to local manufacturing with the use of Production Linked Incentive schemes in sectors such as textiles, food products, high efficiency solar PV modules, etc

The Union Cabinet has approved the National Medical Devices Policy with an aim to increase domestic production and reduce imports of such equipment.