Sign In
Learn bits
Schemes & Policies
Mahesh

07/09/23 05:36 AM IST

Industrial Development Scheme

In News
  • The Cabinet chaired by Hon’ble PM Shri Narendra Modi has approved an amount of Rs. 1164.53 cr. for Industrial Development Scheme (IDS), 2017 for Himachal Pradesh and Uttarakhand.
Objectives of the scheme
  • The government of India announced Industrial Development Scheme, 2017, in 2018 dated 23rd April 2018 for the state of Himachal Pradesh and Uttarakhand. Under this scheme,the total financial outlay was Rs.131.90 crore.
  • All eligible new industrial units and existing industrial units on their substantial expansion in the manufacturing and service sector located anywhere in the States of Himachal Pradesh and Uttarakhand will be provided Central Capital Investment Incentive for access to credit (CCIIAC) @ 30% of the investment in Plant and Machinery with an upper limit of Rs.5.00 crore.
  • All eligible new industrial units and existing industrial units on their substantial expansion located anywhere in the states of HP and Uttarakhand will be eligible for reimbursement of 100% insurance premium on insurance of building and Plant & Machinery for a maximum period of 5 years from the date of commencement of commercial production/operation.
  • The financial outlay of IDS, 2017 for the State of Himachal Pradesh & Uttarakhand was only Rs.131.90 crore,which was released during 2021-2022.
  • Further, to meet the committed liabilities through the additional requirement of funds under the scheme up to 2028-29, the cabinet has approved the additional financial outlay amounting to Rs.1164.53 crore under the scheme.
Source- PIB

More Related Current Affairs View All

05 May

Key objectives of caste count

'The Union Cabinet has decided that the next Census will include questions on caste to its enumeration of India’s population, for the first time in almost a century. ' T

Read More

05 May

2 new genome-edited rice varieties

'Agriculture Minister Shivraj Singh Chouhan recently released two genome-edited varieties of rice, the first achievement of its kind in the country.' These two varieties, which

Read More

05 Mar

First-ever comprehensive survey of India’s river dolphins

'Prime Minister Narendra Modi released the results of the first-ever comprehensive population estimation of riverine dolphins – Gangetic and Indus dolphins – done in In

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps