New Delhi, Sep 6 (IANS): The Union Cabinet on Wednesday approved Rs 1164.53 crore as an additional fund requirement under the Industrial Development Scheme, 2017 for Himachal Pradesh and Uttarakhand, Union Minister Anurag Thakur said.
Addressing a press conference after the Cabinet meeting that was chaired by Prime Minister Narendra Modi, Thakur said, “Today Rs 1164.53 crore has been sanctioned for Industrial Development Scheme (2017) for the states of Himachal Pradesh and Uttarakhand.”
He said that the additional fund was required to meet the committed liabilities under the scheme up to 2028-29.
He said that the scheme was launched in 2017 for the state of Himachal Pradesh and Uttarakhand. Under this scheme, the total financial outlay was Rs 131.90 crore. This allocated fund has been exhausted during the financial year 2021-22.
“Further, the requirement of an additional fund to meet the committed liabilities up to 2028-2029 is Rs 1164.53 crore. For allocation of this additional financial outlay, approval of the Cabinet was solicited under Industrial Development Scheme, 2017,” Thakur said.
The government in a statement said that 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) at 30 per cent of the investment in Plant and Machinery with an upper limit of Rs 5.00 crore.
It also said that the 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 per cent insurance premium on insurance of building and plant and machinery for a maximum period of five years from the date of commencement of commercial production or operation.
Thakur said that it is anticipated to generate direct employment opportunities for about 48,607 people by 774 registered units