Uttar Poorva Transformative Industrialization Scheme (UNNATI)
09.03.2024
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For the Prelims: About Uttar Poorva Transformative Industrialization Scheme (UNNATI)(Expenditure involved, Salient features of the scheme) |
Why in the news?
The Union Cabinet approved the proposal for Uttar Poorva Transformative Industrialization Scheme, 2024 (UNNATI – 2024).
About Uttar Poorva Transformative Industrialization Scheme (UNNATI):
- It is aimed at developing industries and generating employment in the NorthEast Region, and seeks to create productive economic activity in manufacturing and services.
- Its main objective is to generate gainful employment, leading to the overall socio-economic development of the region.
Expenditure involved of the scheme:
тЧЛThis will be a Central Sector Scheme.
тЧЛIt is proposed to be divided into two parts. Part A caters to the incentives to the eligible units (Rs. 9737 crores), and Part B, is for implementation and institutional arrangements for the scheme. (Rs. 300 Crore).
Salient features of the scheme
тЧЛScheme period: The scheme will be effective from the date of Notification and up to 31.03.2034 along with 8 years of committed liabilities.
тЧЛCommencement of Production or operation: All eligible Industrial Units to commence their production or operation within 4 years from the grant of registration.
тЧЛDistricts are categorized in two zones: Zone A (Industrially Advanced Districts) & Zone B (Industrially Backward Districts)
тЧЛEarmarking of funds:60% of the outlay of Part A has been earmarked to 8 NE states and 40% on First-In-First-Out (FIFO) basis.
тЧЛAll new Industrial units and Expanding units would be eligible for the respective incentives.
- Implementation of the scheme will be overseen by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.
- Committees at the national and state levels, including the Steering Committee and State Level Committee, will monitor implementation, ensure transparency, and recommend registration and incentives claims.
Source: PIB