The government will spend Rs.1,030 crore during the 12th Plan period (2012-17) to upgrade industrial infrastructure in the country.
The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Manmohan Singh Thursday approved the "Modified Industrial Infrastructure Upgradation Scheme" with an approved outlay of Rs.1,030 crore.
The approval includes Rs.450 crore for committed liability and the remaining Rs.580 crore for taking up 14 to 16 new projects, including a minimum two projects in the Northeast, for upgradation in existing or greenfield industrial clusters, according to an official statement released after the meeting.
"At least 10 percent outlay will be set aside for the minimum two projects in the North Eastern region," it said.
All states are covered under the scheme. However, projects are likely to be undertaken in only 14 to 16 states due to limitation of outlay in the 12th Plan, the statement added.
