Aiming to make India a global electronics manufacturing hub, the government in its Budget 2017-18 on Wednesday hiked the allocation for Modified Special Incentive Package Scheme (M-SIPS) and the Electronics Development Fund to Rs 745 crore — “an all-time high”. Also Read - Ola to offer free oxygen concentrators to the needyAlso Read - Samsung Galaxy S20 FE Long-term Review
“A number of global leaders and mobile manufacturers have set up production facilities in India. I have therefore exponentially increased the allocation for incentive schemes like M-SIPS and EDF to Rs 745 crore in 2017-18. This is an all-time high,” Finance Minister Arun Jaitley said while presenting Union Budget 2017-18.
“We are also creating an eco-system to make India a global hub for electronics manufacturing. Over 250 investment proposals for electronics manufacturing have been received in the last two years, totaling an investment of Rs 1.26 lakh crore,” he added. ALSO READ: Union Budget 2017-18: Smartphone prices in India to marginally increase
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