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Construction : Web Exclusive | June 2013 | Source : Construction Update

Govt extends industrial incentive package to J&K

The Department of Industrial Policy & Promotion (DIPP), Government of India, has extended the Special Package for Industrial Development of Jammu & Kashmir (J&K) for a further period of 5 years, upto June 14, 2017.

The earlier package of Industrial Incentive for the state was announced on June 14, 2002 for a period of 10 years upto June 14, 2012.

In order to provide continuity and to maintain the enabling environment for ongoing industrial development of the state of J&K, it has been decided to extend the incentives under the special package for a further period of five years from June 15, 2012 to June 14, 2017. The package includes:

(i) Capital Investment Subsidy @ 15% of investment in plant and machinery subject to ceiling of Rs.30 lakh. However, MSMEs would be eligible for Capital Investment Subsidy @ 30 percent of the investment of plant and machinery subject to ceiling of Rs.3.00 crore and Rs.1.50 crore for manufacturing and service sector respectively to all new industrial units and existing industrial units on their substantial expansion.

(ii) 3 percent Interest subsidy on the average of daily working capital loan to all new units for a period of 5 years from the date of commencement of commercial production.

(iii) Central Comprehensive Insurance Subsidy Scheme with 100 percent reimbursement of premium to all new and existing units on their substantial expansion for a period of 5 years from the date of commencement of commercial production.

 
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