Rs 3000cr income-generation scheme has no takers
New Delhi, Dec 27 (IBNS): A Rs 3,000 crore scheme started 20 months ago that seeks promote industrialisation and boost employment and income generation in the northeastern states has no takers, Union minister of state for commerce and industry C.R. Chaudhary has revealed.
North East Industrial Development Scheme (NEIDS), 2017, covers eligible industrial units in the manufacturing and service sectors of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Tripura and Sikkim to promote industrialisation and boost employment and income generation.
The Scheme is valid from 01.04.2017 to 31.03.2022.
The scheme provides (i) Central Capital Investment Incentive (30% of the investment in plant & machinery with an upper limit of Rs. 5 crore), (ii) Central Interest Incentive (3% interest on working capital for 5 years), (iii) Central Comprehensive Insurance Incentive (Reimbursement of 100% insurance premium for 5 years), (iv) Income Tax Reimbursement of centre’s share for 5 years, (v) GST reimbursement of Central Govt. share of CGST & IGST for 5 years, (vi) Employment Incentive under which additional 3.67% of the employer’s contribution to EPF in addition to Govt. bearing 8.33% Employee Pension Scheme (EPS) contribution of the employer in PMRPY and (vii) Transport incentive on finished goods movement by Railways(20% cost of the transportation), by Inland Waterways Authority (20% of the cost of transportation) & by air (33% of cost transportation of air freight) from the station/port/airport nearest to unit to the station/port/airport nearest to the destination point.
Under this scheme, a single unit can avail overall benefits up to Rs. 200 crore.
The scheme does not envisage sanction of projects, rather, eligible units are registered after following due process. To date, one industrial unit M/s AMBROSIA INDUSTRIES in district Kamrup, Assam has been granted registration under NEIDS, 2017.
"The total approved outlay of NEIDS is Rs 3,000 crore. No claims have been raised under the scheme so far and as such, there is no release and utilisation of funds under the scheme," the minister said in a written reply in the Lok Sabha.
Picture caption: Union minister of state for commerce and industry C.R. Chaudhary
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
