GoI announces Industrial Development Scheme, 2017 for HP

5 Dariya News

Shimla 28-Jun-2018

The untiring efforts of the state government has resulted in the announcement of Industrial Development Scheme, 2017 by the Government of India to the new and existing industrial units engaged in manufacturing and service sector enterprises in the service sector that requires significant capital expenditure and employment generation in Himachal Pradesh.A spokesperson of the Industries department disclosed here today that this scheme is effective from 1 April, 2017 and will remain in force till 31 March, 2022. Those units which have already commenced commercial production/operation after 1 April, 2017 can register under this scheme with department of Industrial Policy and Promotion, Government of India upto 30 September, 2018.He said this scheme will also be applicable to bio-technology and hydel power generation units’ upto 10 MW. 

The web link for applying for registration at DIPP portal is ncog.gov.in/ds/login.The salient features of this Industrial Development Scheme includes Central Capital, Investment Incentive for access to credit (CCIIAC) @ 30 percent investment in plant and machinery with an upper limit of Rs. 5 crore. All eligible new industrial units and existing units on their substantial expansion located anywhere in the State and Central Comprehensive Insurance Incentive (CCII) under which eligible units are included in Fire Policy " C" as per All India Fire Tariffs, will be eligible for reimbursement of 100 percent insurance premium on insurance of building plant and machinery for a period of five years from the date of commencement of commercial production/operation.This would definitely attract new investment in the State and will also prove milestone for retaining the existing industry, said the Spokesperson.