Uttar Poorva Transformative Industrialization Scheme Approved

  • The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, approved the proposal for the Uttar Poorva Transformative Industrialization Scheme, 2024 (UNNATI – 2024) for 10 years from the date of notification.
    • The scheme offers incentives for investors to set up new units or undertake significant expansion of existing units.
    • The scheme includes a Capital Investment Incentive (Zone A) and a Central Capital Interest Subvention (Zone B).
    • The scheme is divided into two parts: Part A, which caters to the incentives to eligible units (Rs. 9737 crores), and Part B, which is for implementation and institutional arrangements (Rs. 300 crores).
    • The scheme is expected to generate direct employment opportunities of about 83,000 and a significant number of indirect employment.
    • The scheme is effective from the date of notification and up to 31.03.2034, with 8 years of committed liabilities.
    • The scheme is divided into two zones: Industrially Advanced Districts (Zone A) and Industrially Backward Districts (Zone B).
    • The scheme’s implementation will be overseen by the Steering Committee, State Level Committee, and Secretary Level Committee.
    • The scheme aims to generate gainful employment, job creation, skill development, and sustainable development in the North East Region.
Posted in Current Affairs.