The Cabinet has provided some additional allocations

Solution

The cabinet has approved an additional allocation of over Rs 1,100 crore for the industrial development scheme, 2017 for Himachal Pradesh and Uttarakhand.   The additional fund was required to meet the liabilities under the scheme up to 2028-29. Under this scheme, the total financial outlay was Rs 131.90 crore.    As per the approval of additional funds under the above scheme, the following incentives would be benefitted under the scheme.     Central Capital Investment Incentive for Access to Credit (CCIIAC): o   All eligible new industrial units and existing industrial units on their substantial expansion in the manufacturing and service sector located anywhere in the States of Himachal Pradesh and Uttarakhand will be provided Central Capital Investment Incentive for access to credit (CCIIAC) @ 30% of the investment in Plant and Machinery with an upper limit of Rs.5.00 crore.   Central Comprehensive Insurance Incentive (CCII): o   All eligible new industrial units and existing industrial units on their substantial expansion located anywhere in the states of HP and Uttarakhand will be eligible for reimbursement of 100% insurance premium on insurance of building and Plant & Machinery for a maximum period of 5 years from the date of commencement of commercial production/operation.