‘New industrial development’ scheme gets effective in Himachal; application to be accepted till September this year

Shimla, June 29: In a bid to boost the industrialization sector in Himachal Pradesh, the central government in the month of April this year notified new industrial development schemes. However, now the new industrial development scheme has come into effect in Himachal Pradesh.

 

Notably, a spokesperson of the Himachal Government said that the new industrial development scheme is effective from 1 April 2017 and will remain in force till 31 March 2022. “Those units which have already commenced commercial production/operation after 1 April 2017 can register under this scheme with the department of Industrial Policy and Promotion, Government of India up to 30 September 2018,” he added.

He further stated that this scheme will also be applicable to biotechnology and hydel power generation units’ up to 10 MW. The web link for applying for registration at DIPP portal is ncog.gov.in/ds/login. This would definitely attract new investment in the State and will also prove a milestone for retaining the existing industry, the spokesperson concluded.

In April 2018, the government of India notified new industrial development schemes for several states including Himachal Pradesh. The salient features of this Industrial Development Scheme include Central Capital, Investment Incentive for access to credit (CCIIAC) @ 30 percent investment in plant and machinery with an upper limit of Rs. 5 crore.

All eligible new industrial units and existing units on their substantial expansion located anywhere in the State and Central Comprehensive Insurance Incentive (CCII) under which eligible units are included in Fire Policy " C" as per All India Fire Tariffs, will be eligible for reimbursement of 100 percent insurance premium on insurance of building plant and machinery for a period of five years from the date of commencement of commercial production/operation.