The government on Monday extended for the third time the deadline for submitting applications under the Special Steel Production Incentive Scheme until June 30, 2022. So far, only 10 applications have been received from players wishing to invest under the Rs 6,322-crore scheme which was launched in July last year.

Initially, March 29 was the deadline for manufacturers to apply for PLI (Production-Linked Incentive) program benefits for specialty steels. It was later extended until April 30 and again until May 31, 2022.

Last week, PTI had reported that the government was considering extending the deadline for submitting applications under the PLI scheme with some changes such as no minimum investment cap and putting in place a minimum capacity for secondary actors, a uniform incentive for the production of special steel, among others.

However, the latest expansion has arrived without any modifications.

“…the undersigned is requested to convey…to extend the deadline for receipt of applications for the PLI Program for Special Steels from 31.5.2022 to 30.6.2022. The application window will remain open until 30.6.2022 “, according to a notification from the Ministry of Steel.

Responding to a question related to the amendments, a senior government official said an Empowered Group of Secretaries (EGS) meeting is yet to be held on the matter, after which a decision will be made.

Last year in October, Union Steel Minister Ram Chandra Prasad Singh said an EGS meeting would be convened to address issues for companies wishing to invest under the PLI scheme. for special steels.

On July 22 last year, the Union Cabinet chaired by Prime Minister Narendra Modi approved a Rs 6,322 crore PLI scheme to boost special steel production in the country.