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Govt clears more than 300 Capital Investment Subsidy cases by March 31, 2014

By TIOL News Service

NEW DELHI, AUG 01, 2014: THE total number of capital investment subsidy cases cleared and disbursed by the Government till 31.03.2014 value-wise is as under:-

Type of capital investment subsidy cases with value

Numbers

less than 1 crore per unit

261

between 1 to 10 crores

33

between 10 to 50 crores

08

more than 50 crores

01

The procedure for clearing incentives proposals for smaller units is simpler as compared to bigger units. Central Capital Investment Subsidy claims upto Rs. 5 lacs are approved by the District Level Committee (DLC), whereas claims above Rs. 5 lacs but upto Rs. 1.50 crores are approved by the State Level Committee (SLC). Claims in excess of Rs. 1.50 crores and upto Rs. 30 crores are appraised by the Directorate but approved by the Empowered Committee (EC) constituted for the purpose. Claims in excess of Rs. 30 crores are approved by the Union Cabinet after being appraised by the SLC / EC.

In addition to the above, the procedure for claiming subsidy has further been streamlined and the different approving authorities are required to invariably take into consideration the value of plant and machinery as assessed by a financial institution. However self-financed micro-units have been exempted from investment appraisals for availing capital investment subsidy.

The data given above does not suggest that level of scrutiny is adversely affecting industrialization in NE States.

The information was given by the Minister of State (Independent Charge) in the Ministry of Commerce & Industry Ms. Nirmala Sitharaman in a written reply in Lok Sabha yesterday.


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