Here is the overview of key initiatives of Ministry of Heavy Industries during the year 2023:
The year 2023 was full of key developments and initiatives by the Central government in various sectors. Multiple schemes were announced to help heavy industries sector in its growth, be it through incentives or PLI schemes.
According to data shared by the Ministry of Heavy Industries, in 2023 the government released Rs 5,228 crore Subsidy given to incentivize 11.53 lakh Electric Vehicles, sanctioned Rs 800 crore to PSU Oil Marketing Companies for setting up 7432 public fast charging stations, 85 Companies implementing PLI Auto Programme; Scheme Likely to attract investment of Rs. 67,690 crore among others.
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PLI for setting up of manufacturing facilities for Advance Chemistry Cell, Battery Storage in India with an outlay of Rs 18,100 crore for 7 years 32 projects with Project Cost of Rs 1363.78 crore approved under the Phase-II of Scheme for Enhancement of Competitiveness in the Indian Capital Goods Sector.
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A key service provided by MHI under its Citizen’s Charter was the issue of GST Concession Certificate to orthopedically disabled persons.
This IT enabled initiative has helped streamlining the process and facilitated issue of 2985 GST Concession Certificates in 11 months’ period from January 2023 to November 2023, highest ever in the last five-year period. A total of 5513 GST Concession Certificates were issued in current and last year through this portal.
Also, the BHEL signed two key MOUs with Hindustan Aeronautics Limited (HAL) for long-term maintenance, repair, and operations support for Line Replaceable Units (LRUs) for Light Combat Aircraft ‘Tejas’. Munitions India Limited (MIL) for co-production and supply of ammunitions including smart ammunitions on 15th February 2023 during AERO show event at Bengaluru.
Here is the overview of key initiatives of Ministry of Heavy Industries during the year 2023:
The Scheme had an outlay of Rs 10,000 crores over a Five years’ period from April 1, 2019. The proposal for enhancement of outlay Rs 10,000 crores to Rs 11,500 crores has been examined by Department of Expenditure (DoE) and approved considering the objectives of the Scheme.
Also, under the scheme, subsidy amounting to Rs 5,228 crore has been given to electric vehicle manufacturers on sale of 11,53,079 numbers of electric vehicles as on December 1, 2023.
Various STUs/CTUs/Municipal corporations have placed Supply Orders for 3390 e-buses against quantities sanctioned by MHI.
Out of those, 3037 e-buses have been deployed till now. Further, another 3,472 e-buses case is being dealt through CESL under the aggregation model of NITI Aayog. Out of these 3,472 e-buses, 454 electric buses have been deployed.
A total of 148 EV Public Charging Stations have been commissioned. On March 28, 2023 MHI announced sanction of Rs 800 crore under FAME II to the PSU Oil Marketing Companies – Indian Oil, Bharat Petroleum, and Hindustan Petroleum – for setting up 7432 public fast charging stations across the country.
Government has approved a PLI Scheme for this sector with a total outlay of Rs 25,938 crore over a period of 5 years. The prime objectives include overcoming cost disabilities, creating economies of scale and building a robust supply chain in areas of Advanced Automotive Technology products. 18 companies under ‘Champion OEM’ category and 67 companies under ‘Component Champion’ category, approved under the Scheme.
Total estimated investment to be made by the implementing firms is to the tune of Rs. 67,690 crores. Till Q2 of FY 2023-24, the total investment of Rs 11,958 crores have been reported. Tata Motors and M&M have been issued Advanced Automotive Technology and Domestic Value Addition certificates.
PLI for setting up manufacturing facilities for Advance Chemistry Cell (ACC), Battery Storage in India, has been approved with an outlay of Rs 18,100 crores for 7 years. Three of the approved firms under the Scheme have signed the Programme Agreement to implement the PLI ACC Programme for setting up manufacturing facilities of 30 GWh ACC capacity. Total estimated investment to be made by the implementing firms is approx Rs 14,810 crore.
Scheme on Enhancement of Competitiveness in the Indian Capital Goods Sector- Phase-II was notified in 2022 for providing assistance to Common Technology Development and Services Infrastructure. The scheme has a financial outlay of Rs 1207 crores with budgetary support of Rs 975 crore and Industry Contribution of Rs 232 crore.
A total of 32 projects with total project cost of Rs 1363.78 crores have been sanctioned so far.
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