Note4Students
From UPSC perspective, the following things are important :
Prelims level: SPECS
Mains level: Not Much
The Union Cabinet has approved Scheme for Promotion of manufacturing of Electronic Components and Semiconductors.
About SPECS
- The scheme aims to offer the financial incentive of 25% of capital expenditure for the manufacturing of goods that constitute the supply chain of electronic products.
- The scheme will help offset the disability for domestic manufacturing of electronic components and semiconductors in order to strengthen the electronic manufacturing ecosystem in the country.
Benefits
The proposal, when implemented, will lead to the development of electronic components manufacturing ecosystem in the country. Following are the expected outputs/outcomes in terms of measurable indicators for the scheme:
- Development of electronic components manufacturing ecosystem in the country and deepening of Electronics value chain
- New investments in Electronics Sector to the tune of at least Rs. 20,000 crore
- Total employment potential of the scheme is approximately 6,00,000
- Reducing dependence on import of components by large scale domestic manufacturing that will also enhance the digital security of the nation
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