Cabinet approves ₹1.27 lakh crore for Semicon Mission 2.0, for mobile manufacturing, new highways

Prelims-testable facts

• 01The Union Cabinet has approved the Semicon 2.0 mission with a total budget outlay of ₹1,27,500 crore.
• 02Semiconductor Mission 2.0 aims to develop India's semiconductor design and manufacturing ecosystem.
• 03The mission will focus on subsidising the supply chain around chip manufacturing to attract companies producing commodities like g
• 04India Semiconductor Mission (ISM) 2.0 has been allocated ₹1.27 lakh crore for expansion of the country's semiconductor design and manufacturing ecosystem.
• 05Semicon 2.0 seeks to expand India's role in the global semiconductor supply chain and reduce import dependence.
• 06The mission will provide long-term policy support to the sector, including subsidies for chip manufacturing.

Trap alerts

• Most people think Semicon 2.0 is only focused on mobile phone manufacturing, but actually it has a broader scope of developing India's semiconductor design and manufacturing ecosystem.
• Most people think ₹1.27 lakh crore is the total budget allocated for Mobile Phone Manufacturing Scheme, but actually ₹62,500 crore is allocated for this scheme.