New Delhi, May 15 (UNI) Despite several announcements by the Centre, a meagre investment of just over Rs 1,000 crore was made in seven states in the region in ten years under the North East Industrial Policy-1997.
This was revealed in a written reply in the Lok Sabha today by Minister of State for Commerce and Industry Ashwani Kumar.
An assessment study of NEIP-1007 carried out between 1999-2004 by Tata Economic Constulancy Services revealed that an investment of Rs 1,067.28 crore in 681 units generated direct employment of 20,709 in Assam, Meghalaya, Arunachal Pradesh, Tripura, Nagaland, Mizoram and Manipur.
Based on the recommendations made by the consultancy firm and a memorandum submitted by the North Easteran Small Scale Industries Association, the Central government notified a new policy called North East Industrial and Investment Promotion Policy (NEIIPP),2007, last month. It also includes Sikkim, the 8th north-eastern state.
The new policy, while retaining 100 per cent excise and income tax exemption, has doubled capital investment subsidy to 30 per cent for units costing upto Rs 1.50 crore. Earlier, only 15 per cent subsidy was available to units set up at a cost of upto Rs 30 lakh.
The NEIIP provides for incentives to all industrial units, new as well as existing units on their substantial expansion, irrespective of location in the region, the Minister said.
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This was revealed in a written reply in the Lok Sabha today by Minister of State for Commerce and Industry Ashwani Kumar.
An assessment study of NEIP-1007 carried out between 1999-2004 by Tata Economic Constulancy Services revealed that an investment of Rs 1,067.28 crore in 681 units generated direct employment of 20,709 in Assam, Meghalaya, Arunachal Pradesh, Tripura, Nagaland, Mizoram and Manipur.
Based on the recommendations made by the consultancy firm and a memorandum submitted by the North Easteran Small Scale Industries Association, the Central government notified a new policy called North East Industrial and Investment Promotion Policy (NEIIPP),2007, last month. It also includes Sikkim, the 8th north-eastern state.
The new policy, while retaining 100 per cent excise and income tax exemption, has doubled capital investment subsidy to 30 per cent for units costing upto Rs 1.50 crore. Earlier, only 15 per cent subsidy was available to units set up at a cost of upto Rs 30 lakh.
The NEIIP provides for incentives to all industrial units, new as well as existing units on their substantial expansion, irrespective of location in the region, the Minister said.
More UNI
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