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Central Capital Investment Subsidy Scheme, 2007

Indian Laws - F.No.10(3)/2007-DBA-II/NER - Dated:- 27-7-2007 - MINISTRY OF COMMERCE & INDUSTRY (Department of Industrial Policy & Promotion) NOTIFICATION New Delhi, the 27th July, 2007 F.No.10(3)/2007-DBA-II/NER - In pursuance of the North East Industrial and Investment Promotion Policy, 2007 (NEIIPP, 2007) issued by the Ministry of Commerce and Industry (Department of Industrial Policy and Promotion) vide O.M. No.10 (3)/2007-DBA-II/NER, dated the 1st April, 2007, the Government of India .....

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y:- Unless otherwise specified, all new industrial units as well as existing units which go in for substantial expansion and are located anywhere in NER, will be eligible for capital investment subsidy under this Scheme. The Scheme will also be applicable to the following service sector activities/industries: - I. Service Sector: (i) Hotels (not below Two Star category), adventure and leisure sports including ropeways ; (ii) Medical and health services in the nature of nursing homes with a minim .....

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Annexure-I 4. Definitions: (a) Industrial unit means any industrial undertaking, suitable servicing unit other than that run departmentally by Government. (b) New industrial unit means an industrial unit for the setting up of which effective steps were not taken prior to 1.4.2007 (c) Existing Industrial Unit means an industrial unit for the setting up of which effective steps were taken prior to 1.4.2007. (d) Substantial expansion means increase in the value of fixed capital investment in plant .....

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plant and machinery , for the purpose of this scheme. 5. Extent of admissible Subsidy All eligible industrial units located anywhere in the North Eastern Region shall be given capital investment subsidy at the rate of 30% of their investment in Plant and Machinery or additional investment in Plant and Machinery. Such subsidy will be applicable to units in the private sector, joint sector, cooperative sector as well as the units set up by the State Governments concerned of the North Eastern Regi .....

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n and approval. 6. Plant and Machinery (for manufacturing sector) (i) In calculating the value of plant and machinery, the cost of industrial plant and machinery as erected at site will be taken into account which will include the cost of productive equipments, such as tools, jigs, dies & moulds, insurance premium etc. (ii) The amount invested in goods carriers to the extent they are actually utilized for transport of raw materials and marketing of the finished products, will be taken into a .....

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n Development Financial Corporation (NEDFi), Guwahati shall be the designated nodal agency for disbursement of capital investment subsidy under the Scheme on the basis of the recommendation of State Level Committee (SLC) of the concerned State Government, the Empowered Committee and the Union Cabinet, as the case may be. 8. Procedure for claiming capital investment subsidy Industrial units eligible for subsidy under the Scheme will be required to get themselves registered with the State Industry .....

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ies Department, State Directorate of Industries, NEDFi and the Financial Institution concerned (if the industrial unit is to be assisted by a financial institution), to go into details of each case to decide whether the unit qualifies for the grant of subsidy and also about the quantum of subsidy. 10. In respect of a new industrial unit set up without assistance from a Financial Institution or the State Government concerned, the subsidy will be disbursed to the unit by NEDFi on the recommendatio .....

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on has been effected and the unit has commenced enhanced commercial production. However, in such cases where the concerned State Government is satisfied about the safety of the public funds, not more than half of the amount of the estimated subsidy may be released prior to the unit going into production on the entrepreneur s furnishing a proof of having taken effective steps to the satisfaction of State Director of Industries and the remaining amount be released only after the unit goes into pro .....

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s upto the amount of the subsidy payable/paid to the units. In respect of new industrial unit or in respect of substantial expansion of an existing industrial unit to be assisted by a financial institution, the subsidy will be disbursed to the unit by NEDFi in as many instalments in which the loan is disbursed by the financial institution and simultaneously claimed by the Financial Institution/State Government from NEDFi. 12. Rights of the Centre/State Government/Financial Institutions If the Ce .....

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he Union Ministry of Commerce & Industry (Department of Industrial Policy and Promotion) /State Government/Financial Institution concerned, no owner of an industrial unit after receiving a part or the whole of the subsidy will be allowed to change the location of the whole or any part of industrial unit or effect any substantial contraction or dispose of a substantial part of its total fixed capital investment within a period of 5 years after its going into commercial production. 14. In resp .....

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on Ministry of Industry (Department of Industrial Policy and Promotion)/ State Government concerned, about its working for a period of 5 years after going into production. 16. A High Level Monitoring Committee has been set up as in Annexure-III which would monitor implementation of the Scheme. (N.N.Prasad) Joint Secretary ANNEXURE-I Negative List: The following industries will not be eligible for benefits under NEIIPP, 2007:- (i) All goods falling under Chapter 24 of the First Schedule to the Ce .....

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(5 of 1986) produced by petroleum oil or gas refineries. Value Addition Benefits under NEIIPP, 2007 will not be admissible to goods in respect of which only peripheral activities like preservation during storage, cleaning operations, packing, re-packing, labelling or relabelling, sorting, alteration of retail sale price etc. take place. ANNEXURE-II Empowered Committee: (i) Secretary, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India … Ch .....

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