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Cabinet approves the North East Industrial Development Scheme (NEIDS), 2017 with financial outlay of Rs.3000 crores upto March, 2020
To promote employment in the North East States, Government is incentivizing primarily the MSME Sector through NEIDS scheme

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the North East Industrial Development Scheme (NEIDS), 2017 with financial outlay of Rs.3000 crores upto March, 2020. Government will provide necessary allocations for remaining period of scheme after assessment before March 2020. NEIDS is a combination of the incentives covered under the earlier two schemes with a much larger outlay.

Details:

In order to promote employment in the North East States, Government is incentivizing primarily the MSME Sector through this scheme. Government is also providing specific incentive through the scheme to generate employment.

All eligible industrial units, which are getting benefits of one or more components of other schemes of the Government of India, will also be considered for benefits of other components of this scheme.

Under the Scheme, the following incentives shall be provided to new industrial units set up in the North Eastern States including Sikkim:

 

Central    Capital    Investment Incentive for Access to Credit (CCIIAC)

 

30% of the investment in Plant & Machinery with an upper limit of Rs.5 Crore on the incentive amount per unit.

 

Central Interest Incentive (Cll)

 

3% on working capital credit advanced by eligible Banks/ Financial institutions for first 5 years from the date of commencement of commercial production by the unit.

 

Central            Comprehensive Insurance Incentive (CCII)

 

Reimbursement of 100%  insurance premium on insurance of building   and Plant & Machinery for 5 years from the date of commencement of commercial production by the unit.

 

Goods and Service Tax (GST) Reimbursement

 

Reimbursement up to the extent of Central Govt. share of CGST and IGST for 5 Years from the date of commencement of commercial production by the unit.

Income-Tax (IT) Reimbursement

Reimbursement of Centre's share of income tax for first 5 years including the year of commencement of commercial production by the unit.

 

Transport Incentive (TI)

  • 20% of the cost of transportation including the subsidy   currently   provided    by   Railways/ Railway PSU for movement of finished goods by rail.
  • 20% of cost of transportation for finished goods,  for     movement    through     InlandWaterways Authority of India.
  • 33% of cost of transportation of air freight on perishable goods (as defined by IATA) from the airport nearest to place of production toany airport within the country.

 

Employment Incentive (EI)

The Government shall pay 3.67% of the employer’s contribution to the Employees Provident Fund (EPF) in addition to Government bearing 8.33% Employee Pension Scheme (EPS) contribution of the employer in the Pradhan MantriRojgarProtsahanYojana (PMRPY).

 

 

          The overall cap for benefits under all components of incentives will be of Rs. 200 crores per unit.

 

          The newly introduced scheme shall promote industrialization in the States of the North Eastern Region and will boost employment and income generation.

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Remembering Netaji Subhas Chandra Bose - PM Inaugurates Subhas Chandra Bose Museum at Red Fort
January 23, 2019
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PM Visits Yaad-e-Jallian Museum, Museum on 1857 and Drishyakala Museum in Delhi All 4 Museums named as Kranti Mandir.

Remembering the heroes of freedom struggle, the Prime Minister, Shri Narendra Modi paid floral tributes and inaugurated the Subhas Chandra Bose museum at Red Fort today, to mark his 122nd birth anniversary.  

He visited the Museum on Netaji Subhas Chandra Bose and Indian National Army. PM said, ‘I bow to Netaji Subhas Chandra Bose on his Jayanti. He was a stalwart who committed himself towards ensuring India is free and leads a life of dignity. We are committed to fulfilling his ideals and creating a strong India.’  He also added that History echoes from these walls. In this very building, brave sons of India, Colonel Prem Sahgal, Colonel Gurbaksh Singh Dhillon and Major General Shah Nawaz Khan were put on trial by the colonial rulers. He glanced over the photographs depicting a detailed account of Subhas Chandra Bose and the history of Indian National Army. PM also saw some of the artefacts associated with Netaji and INA such as wooden chair and sword used by Netaji, medals, badges and uniforms of INA. 

The Prime Minister browsed at the photographs, paintings and newspaper clippings depicting the authentic account of Jallianwala Bagh massacre  showcased in the Yaad-e-Jallian Museum. The museum intends to take visitors through the history of Jallianwala Bagh massacre of 1919 and sacrifices made by Indian soldiers during World War-1. 

He also visited the Museum on 1857- India’s first war of Independence and saw the portrayal the historical narrative of 1857 war of independence, showcasing the valour and sacrifices made by Indians during the period. These museums to showcase the sacrifice of our freedom fighters. 

Prime Minister had a look at the Exhibition on Indian Art at the Drishyakala- Museum organized at the same venue. He said ‘To see Gurudev Tagore’s works at Drishyakala is a treat for art lovers. We all know Gurudev Tagore as a prolific writer but he also had a strong link with the world or art. He produced lots of works, featuring multiple themes. Gurudev’s works were also exhibited internationally.’ He also tweeted ‘I would specially urge art lovers to visit Drishyakala, which will take you through the finest aspects of Indian art and culture. Works of eminent Indian artists like Raja Ravi Varma, Gurudev Tagore, Amrita Sher-Gil, Abanindranath Tagore, Nandlal Bose, Gaganendranath Tagore, Sailoz Mookherjea amd Jamini Roy are on display at the exhibition.

PM while inaugurating the museums said that,  it was extremely humbling to inaugurate four museums relating to India's rich history and culture. All four museums have been named as Kranti Mandir. This complex includes Museums on Netaji Subhas Chandra Bose and the Indian National Army, Yaad-e-Jallian Museum (on Jallianwala Bagh and World War 1), Museum on 1857- India’s First War of Independence and Drishyakala Museum on Indian Art, spanning three centuries, with over 450 works of art!

Kranti Mandir is a tribute to the revolutionary zeal and courage of our great freedom fighters. Ahead  of the Republic Day, these will deepen the connect between our glorious history and our youth as well as add to the patriotic fervour among citizens.