Govt extends Rs265-cr capital subsidy to 4 industrial units in North East
16 Dec 2017
The centre has extended Rs264.67 crore as investment subsidy to four industrial units in the North Eastern Region, including in Sikkim.
A meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on Friday approved Capital Investment Subsidy under Central Capital Investment Subsidy Scheme (CCISS), 2007 of North East Industrial Investment and Promotion Policy (NEIIPP), 2007.
The CCEA also revised financial powers for approval of capital investment subsidy claims up to Rs500 crore, which will be now approved by the minister of commerce and industry. This will facilitate expeditious settlement of claims, an official release stated.
The grant of subsidy to the industrial units will not only provide incentives to the operational units but also boost confidence of existing investors as well as potential investors in the states of NER, it said.
The Government of India has been implementing this scheme to promote industrialisation in North Eastern Region.
The CCEA has also revised financial powers for approval of capital investment subsidy claims up to Rs.500 crore which will be now approved by the Minister of Commerce & Industry. This will facilitate expeditious settlement of claims.
The grant of subsidy to the industrial units will not only provide incentives to the operational units but also boost confidence of existing investors as well as potential investors in the states of NER.
The Government of India has been implementing this Scheme to promote industrialization in North Eastern Region.