Incentives for Industries in J&K, HP, Uttarakhand, NE States
An overall benefit of Rs 200 cr can be availed by a single unitAuthor : Sunaina
New Delhi: To provide insentives to the state, twenty-one projects have been implemented in the states of Jammu & Kashmir, Himachal Pradesh, Uttarakhand and North Eastern States.The officials have informed that the Department of Industrial Policy and Promotion (DIPP) under the Ministry of Commerce & Industry has been implementing many schemes for providing incentives to industries in the States of Jammu & Kashmir, Himachal Pradesh, Uttarakhand and North Eastern States including Sikkim.
The scheme for Jammu & Kashmir provides Central Capital Investment Incentive at the rate of 30 per cent of the investment in plant and machinery with an upper limit of Rs 5 crore.The scheme is in force from June 15, 2017 to March 31, 2022.The scheme for Himachal Pradesh and Uttarakhand provides Central Capital Investment Incentive at the 30 per cent of the investment in plant and machinery with an upper limit of Rs 5 crore. The scheme is in force from April 1, 2017 to March 31, 2022.The scheme for North Eastern states including Sikkim provides Central Capital Investment Incentive (30 per cent of the investment in plant & machinery with an upper limit of Rs. 5 crore), Central Interest Incentive (3 per cent interest on working capital for 5 years) and Central Comprehensive Insurance Incentive (Reimbursement of 100 per cent insurance premium for 5 years).The scheme also includes certain reimbursments of Income Tax for 5 years, GST for 5 years and Employment Incentive under which additional 3.67 per cent of the employer's contribution to EPF in addition to Government bearing 8.33 per cent Employee Pension Scheme (EPS) contribution of the employer in PMRPY.
There is transport incentive on finished goods movement by Railways, Inland Waterways Authority and by air from the station/port/airport to the nearest station/port/airport and further to the nearest destination point.