The government today approved capital investment subsidy amounting to Rs 264.67 crore to four industrial units located in North-East, including Sikkim.
The decision was taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi here.
"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 North Eastern Region (NER)," an official statement said.
The four industrial units are located in North Eastern Region (NER) including Sikkim. The subsidy has been granted under the Central Capital Investment Subsidy Scheme (CCISS), 2007 of the North East Industrial Investment and Promotion Policy (NEIIPP), 2007.
The Government of India has been implementing this scheme to promote industrialisation in the North-East.
"The CCEA has also revised financial powers for approval of capital investment subsidy claims up to Rs 500 crore which will be now approved by the Minister of Commerce and Industry.
"This will facilitate expeditious settlement of claims," the statement said.
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