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Source- The post on UNNATI 2024 is based on the article “Cabinet approves Uttar Poorva Transformative Industrialization Scheme, 2024” published in “PIB” on 7th March 2024.
What is the News?
Recently, Ministry of Commerce and Industry, Department for Promotion of Industry and Internal Trade proposed Uttar Poorva Transformative Industrialization Scheme, 2024 (UNNATI – 2024).
About Uttar Poorva Transformative Industrialization Scheme, 2024 (UNNATI – 2024)
| Aspect | Details |
| Description | i) Uttar Poorva Transformative Industrialization Scheme, 2024 (UNNATI – 2024) is for the development of Industries and generation of employment in the states of North East Region. ii) It is a central sector scheme. |
| Objective | To generate gainful employment, leading to the overall socio-economic development. |
| Concerned Ministry | Ministry of Commerce and Industry |
| Funding | Rs.10,037 crore |
| Duration | 10 years from the date of notification along with 8 years for committed liabilities |
| Features | i) Commencement of Production or operation: All eligible Industrial Units to commence their production or operation within 4 years from the grant of registration. ii) Districts are categorized in two zones: Zone A (Industrially Advanced Districts) & Zone B (Industrially Backward Districts) iii) Earmarking of funds: 60% of the outlay of Part A has been earmarked to 8 NE states and 40% on First-In-First-Out (FIFO) basis. iv) All new Industrial units and Expanding units would be eligible for the respective incentives. |
| Benefits | i) It will create productive economic activity in the manufacturing and service sectors. ii) It is anticipated that direct employment opportunities for about 83,000 individuals will be generated during the scheme period, with additional indirect employment. |
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