MeitY seeks higher budgetary allocation for its ECMS scheme
The Ministry of Electronics and Information Technology (Meity) is pushing for enhanced allocation for its flagship electronic component manufacturing scheme (ECMS) in the coming budget from the finance ministry, officials said. This could make the scheme the largest component of Meity’s budgetary demands for grants.
Buoyant industry response to the scheme had expanded the total incentive outgo for ECMS to a projected ₹41,468 crore, 1.8 times the government’s original assessment of ₹22,805 crore, according to official estimates. The scheme has a six-year tenure starting this fiscal year, including a potential one-year gestation period. The finance ministry will hence release the funds on a staggered basis.
