Subsidy incentives in Northeast for employment generating units

By | July 8, 2016

DoNER Ministry to offer subsidy incentives in Northeast for employment generating units: Dr Jitendra Singh

Ministry of Development of North-Eastern Region (DoNER) will offer subsidy incentives in Northeast for industrial and other units generating employment. Announcing this on the conclusion of a meeting of the Ministry here this morning, Union Minister of State (Independent Charge) for Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh said that, as a policy, the Ministry will encourage such entrepreneurship and business establishments which generate employment for the youth in the region. For this purpose, he said, the assistance to North Eastern Development Finance Corporation (NEDFI) would incorporate a component of higher interest subsidy for such units which give more employment. DoNER Ministry is coordinating with Union Ministry of Finance in this regard, he added.

Spelling out the action plan for the year to come, Dr Jitendra Singh gave details of Venture capital funds as another incentive for those undertaking “Startup” initiatives in the North-Eastern region. This will be an added attractive feature for youth from all over India who wish to avail the benefit of Prime Minister’s “Startup India, Standup India” programme by setting up an establishment in Northeast.

Dr Jitendra Singh referred to a meeting held recently with the North Eastern Space Applications Centre (NESAC) wherein it was decided to carry out satellite based survey for planning and monitoring of projects in the region. This, he said, will help in expediting the projects and also avoid discrepancies. In a similar initiative, he said, all the 8 States of Northeast region have agreed to cooperate in carrying out geo-tagging by giving GPS details of various ongoing schemes in the respective States.

Dr Jitendra Singh said, DoNER Ministry will also take up waste management project under North East Rural Livelihood Project (NERLP) and North Eastern Region Community Resource Management Project (NERCORMP). In this case, the Ministry would study the other tried models of waste management including the Tamil Nadu model under the Capacity Building &. Technical Assistance (CB&TA) scheme.

Union Secretary, DoNER, Shri Naveen Verma and senior officers of the Ministry were present in the meeting.

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