Officials said Bajaj Auto has already received about ₹750 crore under the scheme this fiscal. The claims were settled last week.
“Bajaj Auto is the first to raise claims and get the incentive this fiscal,” a senior official told ET, adding the sops are against incremental sales of around ₹6,000 crore achieved by the company.
In an August 2024 statement, the Pune-based company said it secured approval for 13 vehicles under Auto-PLI. This included both two- and three-wheelers, with Bajaj Auto claiming to meet the scheme’s domestic value addition criteria.
The FY27 budget earmarked ₹5,939.87 crore, a nearly threefold jump from ₹2,091.26 crore last fiscal.
The scheme was approved in September 2021 with a ₹25,938 crore budgetary outlay. Incentives were to be disbursed for meeting incremental production, investment, and DVA goals, among others from 2023-24 onwards.
Last December, the heavy industries industry estimated sales worth ₹32,879 crore were achieved by beneficiaries of the Auto-PLI scheme.
Responding to a query in the Parliament, minister of state for heavy industries, Bhupathiraju Srinivasa Varma said ₹1,350.83 crore was disbursed to five applicants.