Source: PIB
Department for Promotion of Industry and Internal Trade (DPIIT) in the Ministry of Commerce and Industry has been implementing several schemes for industrial development in the border areas being Hill states, in the Union Territory of Jammu & Kashmir and Union Territory of Ladakh, Himachal Pradesh, Uttarakhand and the North Eastern States including Sikkim. These schemes are not implemented in other border states of Rajasthan, Punjab and Gujarat
Key features of the scheme
The scheme covers manufacturing & services sector and provides ;
- Central Capital Investment Incentive (30% of the investment in plant & machinery with an upper limit of Rs. 5 crore
- Central Interest Incentive (3% interest on working capital for 5 years)
- Central Comprehensive Insurance Incentive (Reimbursement of 100% insurance premium for 5 years)
- Income Tax Reimbursement of the centre’s share for 5 years
- GST reimbursement of Central Government share of CGST & IGST for 5 years
- Employment Incentive under which additional 3.67% of the employer’s contribution to EPF in addition to Government bearing 8.33% Employee Pension Scheme (EPS) contribution of the employer in Pradhan MantriRojgarProtsahanYojana (PMRPY) and
- Transport incentive on finished goods movement by Railways(20% cost of the transportation), by Inland Waterways Authority (20% of the cost of transportation) & by air (33% of cost transportation of air freight) from the station/port/airport nearest to unit to the station/port/airport nearest to the destination point.
- Scheme Duration: 15.06.2017 to 31.03.2020.
