New Delhi, July 30 -- The Ministry of Electronics and Information Technology (MeitY) has faced scrutiny from a parliamentary committee over the surrender of Rs 1,574 crore in production-linked incentive funds during fiscal year 2024.

The ministry attributed the unused allocation to lower-than-expected performance by companies participating in the schemes.

According to a Parliamentary Standing Committee on Communications and Information Technology report tabled in Parliament last week, MeitY utilised only Rs 12,847 crore in FY24 under various schemes.

This figure fell significantly short of the ministry's initial budget estimate of Rs 16,549 crore, which was subsequently revised downward to Rs 14,421 crore.

The ministry informed the co...