Cabinet gives nod to North East industrial package
Weekly union cabinet briefing by Piyush Goyal
Synopsis
The Union Cabinet has approved a Rs 10,037-crore Uttar Poorva Transformative Industrialization (UNNATI) scheme for northeast states, aiming to generate employment and socio-economic development. The scheme provides incentives for investors to set up new units or expand existing ones.
By Kirtika Suneja, ET Bureau
Last Updated:
The Union Cabinet Thursday approved a Rs 10,037-crore new industrial development scheme called Uttar Poorva Transformative Industrialization (UNNATI) scheme, for northeast states to generate gainful employment and for the regions’s overall socio-economic development.
The scheme will be effective from the date of notification and up to March 31, 2034, along with eight years of committed liabilities.
As per a government statement, eligible industrial units will be able to commence their production or operation within four years from the grant of registration. The scheme envisages approximately
2,180 applications.
Districts have been categorized into Zone A (Industrially Advanced Districts) & Zone B (Industrially Backward Districts) . 60% of the outlay of Part A has been earmarked for the eight northeastern states and the remaining 40% would be allocated on a First-In-First-Out basis.
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Under the scheme, incentives would be provided to investors for setting up new units or undertaking significant expansion of the existing units.The scheme will be effective from the date of notification and up to March 31, 2034, along with eight years of committed liabilities.
As per a government statement, eligible industrial units will be able to commence their production or operation within four years from the grant of registration. The scheme envisages approximately
2,180 applications.
Districts have been categorized into Zone A (Industrially Advanced Districts) & Zone B (Industrially Backward Districts) . 60% of the outlay of Part A has been earmarked for the eight northeastern states and the remaining 40% would be allocated on a First-In-First-Out basis.
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( Originally published on Mar 07, 2024 )