Industry & Economy
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Industrial Policy
In-principle nod to upgrade 19 industrial areas
Our Bureau
New Delhi
,
Jan. 23
THE Government has given its in-principle approval for developing 19 clusters/industrial locations to be taken up in the first phase of the Industrial Infrastructure Upgradation Scheme (IIUS) to be administered by the Department of Industrial Policy and Promotion, according to a release. The move follows recommendations of an inter-Ministerial apex committee set up for this purpose.
The scheme is aimed at enhancing competitiveness of the industry by providing financial assistance for creation of quality infrastructure in selected functional clusters/locations.
A provision of Rs 675 crore has been made in the Tenth Plan for this scheme. The scheme provides for central assistance of up to 75 per cent of the project cost subject to a ceiling of Rs 50 crore per cluster.
The remaining 25 per cent of the cost has to be met by the user-industry and other stakeholders. The scheme is expected to support projects of much larger size also through in such cases the additional resource mobilisation has to be in the form of loans, foreign direct investment etc.
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