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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

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