Logistics Policy Approved, 50% Incentive To Semiconductor Units

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Logistics Policy Approved, 50% Incentive To Semiconductor Units
22 Sep 2022
5 min read

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News Synopsis

Many important decisions were taken in the meeting of the Union Cabinet held on Wednesday. Describing the decisions taken in the cabinet, Union Minister Anurag Thakur has said that the National Logistics Policy has got the approval of the cabinet.

The cabinet meeting was organized on Wednesday under the leadership of Prime Minister of India, Narendra Modi. The National Logistics Policy 2022 was approved in this cabinet meeting. It will introduce ULIPs, standardization, monitoring framework, and skill development for greater efficiency in logistics services. Union Minister Anurag Thakur has said that its aim is to improve the Logistics Performance Index ranking and make the country among the top 25 countries by 2030.

Along with this, the cabinet has approved the PLI scheme for the high-efficiency solar PV module Trans-2. A provision of Rs 19,500 crore has been made for this. Also, the PLI scheme has been introduced in 14 areas. Union Minister Anurag Thakur has given this information.

The cabinet has also approved amendments to the program for the development of semiconductors and display manufacturing ecosystems. The Union Minister has said that under this 50% incentive will be given to semiconductor production units for technology nodes as well as for composite semiconductors, packaging, and other semiconductor facilities.

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