The government is planning to extend its Production Linked Incentive (PLI) scheme to include sectors such as toys, bicycles, leather and footwear in the upcoming budget, according to sources.

The PLI scheme, which has an outlay of around Rs 2 lakh crore, is currently being implemented for 14 sectors including automobiles, white goods, and textiles.

The scheme aims to increase domestic manufacturing competitiveness and create global leaders in manufacturing, and is reportedly yielding positive results.

The proposal to extend the PLI scheme to cover more sectors is said to be at an advanced stage of finalization, and may be included in the budget, which is set to be presented on February 1st, 2023.