SLC sanctions 60 claims under the Industrial Development Scheme

The 12th meeting of the State Level Committee (SLC) was held here today under the Chairmanship of Principal Secretary (Industries) R.D. Nazeem to approve the claims received under the Industrial Development Scheme of DPIIT, Ministry of Commerce and Industry, Government of India (GoI).

A total of 60 claims have been sanctioned by SLC in which the total Investment in plant and machinery is Rs. 721.78 crore and 2,118 people have been provided employment. The total subsidy amount involved in these cases amounts to Rs. 235.72 crore. These cases would be sent to GoI for release of funds at the earliest.

Director Industries and the Member Secretary of SLC, Rakesh Kumar Prajapati presented the claims before the committee and the decision was taken on a case-to-case basis. The Industrial Development Scheme includes Central Capital Investment incentive for access to credit (CCIIAC) @ 30% of the investment in plant and machinery with an upper limit of Rs. 5.00 crores, all eligible new industrial units and existing units on their substantial expansion located anywhere in the State and are included in Fire Policy ā€œCā€ as per All India Fire Tariffs, will be eligible for reimbursement of cent percent insurance premium on insurance of building and Plant and machinery for 5 years from the date of commencement of commercial production/operation. This scheme was in operation for the units that have been established/undertaken substantial expansion w.e.f. 01-04-2017 to 31-03-2022.

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