{"id":1665,"date":"2024-03-28T17:27:23","date_gmt":"2024-03-28T11:57:23","guid":{"rendered":"https:\/\/lotusarise.com\/qna\/?p=1665"},"modified":"2024-04-03T07:21:01","modified_gmt":"2024-04-03T01:51:01","slug":"q-consider-the-following-statements-58","status":"publish","type":"post","link":"https:\/\/lotusarise.com\/qna\/upsc\/q-consider-the-following-statements-58","title":{"rendered":"Q. Consider, the following statements:"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Statement-I<\/strong>: India accounts for&nbsp;<strong>3.2%<\/strong>&nbsp;of global export of goods.<br><strong>Statement-II<\/strong>: Many local companies and some foreign companies operating in India have taken advantage of India\u2019s \u2018Production-linked Incentive\u2019 scheme.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Which one of the following is correct in respect of the above statements?<\/p>\n\n\n\n<ul class=\"mcq wp-block-list\">\n<li>Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I<\/li>\n\n\n\n<li>Both Statement-I and Statement-II are correct and Statement-II is not the correct explanation for Statement-I<\/li>\n\n\n\n<li>Statement-I is correct but Statement-II is incorrect<\/li>\n\n\n\n<li>Statement-I is incorrect but Statement-II is correct<\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>Answer: (d) Statement-I is incorrect but Statement-II is correct<\/strong><\/p>\n<\/blockquote>\n\n\n\n<h5 class=\"wp-block-heading\" id=\"notes-hd-6604f0db99757\">Notes<\/h5>\n\n\n\n<ul class=\"wp-block-list\">\n<li>As per the latest data available (Economic Survey 2022-23)&nbsp;<strong>India\u2019s accounts for 1.8% of Global export of goods<\/strong>&nbsp;and&nbsp;<strong>4% of global export of services.<\/strong><\/li>\n\n\n\n<li><strong>Production Linked Incentive (PLI)&nbsp;<\/strong>scheme is a form of Performance-linked incentive given to companies based on their incremental sales from products manufactured in domestic units. It is aimed at&nbsp;<strong>boosting the manufacturing sector and to reduce imports of India.<\/strong><\/li>\n\n\n\n<li><strong>PLI schemes can be availed by both domestic as well as foreign companies<\/strong>&nbsp;operating in India, thus it is true that&nbsp;<strong>many domestic and foreign companies operating in India have taken advantage of PLI schemes<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h6 class=\"wp-block-heading\" id=\"production-linked-incentive-scheme-pli\">Production Linked Incentive Scheme (PLI)<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The PLI scheme was&nbsp;<strong>conceived to scale up domestic manufacturing capability<\/strong>, accompanied by&nbsp;<strong>higher import substitution<\/strong>&nbsp;and employment generation.<\/li>\n\n\n\n<li><strong>Launched in March 2020<\/strong>, the scheme<strong>&nbsp;initially targeted three industries:<\/strong>\n<ul class=\"wp-block-list\">\n<li>Mobile and allied Component Manufacturing<\/li>\n\n\n\n<li>Electrical Component Manufacturing and<\/li>\n\n\n\n<li>Medical Devices.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Later, it was<strong>&nbsp;extended to 14 sectors.<\/strong>\n<ul class=\"wp-block-list\">\n<li>The&nbsp;<strong>14 sectors are<\/strong>: mobile manufacturing, manufacturing of medical devices, automobiles and auto components, pharmaceuticals, drugs, specialty steel, telecom &amp; networking products, electronic products, white goods (ACs and LEDs), food products, textile products, solar PV modules, advanced chemistry cell (ACC) battery, and drones and drone components.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>In the PLI scheme,&nbsp;<strong>Domestic and Foreign companies<\/strong>&nbsp;receive financial rewards for&nbsp;<strong>manufacturing in India<\/strong>, based on a percentage of their revenue over up to five years.<\/li>\n\n\n\n<li><strong>Incentives Under the Scheme:<\/strong>\n<ul class=\"wp-block-list\">\n<li>The incentives given, are\u00a0<strong>calculated on the basis<\/strong>\u00a0of incremental sales.\n<ul class=\"wp-block-list\">\n<li>In some sectors such as advanced chemistry cell batteries, textile products and the drone industry, the incentive<strong>&nbsp;to be given will be calculated on the basis of sales,<\/strong>&nbsp;performance and local value addition done over the period of five years.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>The emphasis on<strong>&nbsp;R&amp;D investment will also help the industry keep up with global trends<\/strong>&nbsp;and remain competitive in the international market.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Statement-I: India accounts for&nbsp;3.2%&nbsp;of global export of goods.Statement-II: Many local companies and some foreign companies operating in India have taken advantage of India\u2019s \u2018Production-linked Incentive\u2019 scheme. Which one of the following is correct in respect of the above statements? Answer: (d) Statement-I is incorrect but Statement-II is correct Notes Production Linked Incentive Scheme (PLI)<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[1,3],"tags":[38],"years":[50],"class_list":["post-1665","post","type-post","status-publish","format-standard","hentry","category-upsc","category-prelims","tag-indian-economy","years-50"],"acf":[],"taxonomy_info":{"category":[{"value":1,"label":"UPSC"},{"value":3,"label":"Prelims"}],"post_tag":[{"value":38,"label":"Indian Economy"}],"years":[{"value":50,"label":"2023"}]},"featured_image_src_large":false,"author_info":{"display_name":"LotusArise","author_link":"https:\/\/lotusarise.com\/qna\/author\/team-lotusarise"},"comment_info":0,"category_info":[{"term_id":1,"name":"UPSC","slug":"upsc","term_group":0,"term_taxonomy_id":1,"taxonomy":"category","description":"","parent":0,"count":1269,"filter":"raw","cat_ID":1,"category_count":1269,"category_description":"","cat_name":"UPSC","category_nicename":"upsc","category_parent":0},{"term_id":3,"name":"Prelims","slug":"prelims","term_group":0,"term_taxonomy_id":3,"taxonomy":"category","description":"","parent":1,"count":1251,"filter":"raw","cat_ID":3,"category_count":1251,"category_description":"","cat_name":"Prelims","category_nicename":"prelims","category_parent":1}],"tag_info":[{"term_id":38,"name":"Indian Economy","slug":"indian-economy","term_group":0,"term_taxonomy_id":38,"taxonomy":"post_tag","description":"","parent":0,"count":225,"filter":"raw"}],"_links":{"self":[{"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/posts\/1665","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/comments?post=1665"}],"version-history":[{"count":0,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/posts\/1665\/revisions"}],"wp:attachment":[{"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/media?parent=1665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/categories?post=1665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/tags?post=1665"},{"taxonomy":"years","embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/years?post=1665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}