The Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi on December 15 approved Capital Investment Subsidy amounting to Rs.264.67 crore to four industrial units located in North Eastern Region (NER) including Sikkim under Central Capital Investment Subsidy Scheme (CCISS), 2007 of North East Industrial Investment and Promotion Policy (NEIIPP), 2007.
The CCEA has also revised financial powers for approval of capital investment subsidy claims upto Rs.500 crore which will be now approved by the Minister of Commerce & Industry. This will facilitate expeditious settlement of claims.
The grant of subsidy to the industrial units will not only provide incentives to the operational units but also boost confidence of existing investors as well as potential investors in the states of NER.
The Government of India has been implementing this Scheme to promote industrialization in North Eastern Region.