Semicon II may get 64% higher outlay, govt panel to clear Rs 1.25 lakh cr

The government’s semiconductor ambitions are set for a major expansion, with the expenditure finance committee (EFC) under the finance ministry clearing a proposal for a Rs 1.25 lakh crore outlay under India Semiconductor Mission (ISM) 2.0, significantly higher than the Rs 76,000 crore allocated under the first phase of the programme. The proposal, however, will require Cabinet approval before the second phase of the incentive scheme is formally rolled out.

Officials in the ministry of electronics and information technology (MeitY) said discussions are still underway with the finance ministry on the final outlay and subsidy structure. The proposal will be placed before the Union Cabinet once those are finalised.