SIGN IN SUBSCRIBE

News Update

PLI scheme for electronics manufacturing sees incremental investment of Rs 8,390 CrG20 finance leaders agree to tax super-rich but forum not yet readyDPIIT promotes green logistics industry balancing economic growth and environmentIndia, US ink pact to stymie illegal trafficking of cultural propertyRailways expands tracks by 31,180 kmFroth in Yamuna river: Delhi complains to Centre against UP and HaryanaGovt to enhance reach of Indian Digital Public InfrastructureFormer BJP Minister says BJP has totally failed as Opposition in KarnatakaGovt provides incentives to small tea growersEU penalises 5 countries for infringing budget rulesI-T-Transaction involving transfer of unutilised shares cannot be deemed to be sale of shares so as to attract levy of Long Term Capital Gain u/s 112: ITATChina says Relations with Japan at critical stageST - Once the activity of appellant that is of forfeituring the amount of earnest money is not a declared service, question of retaining said money as consideration for rendering such service becomes absolutely redundant: CESTATEU medicines regulator disapproves Alzheimer’s new drugSC says no restrictions on voluntary name banners along Kanwar route eateriesFM favours debt reduction but sans affecting economic growthKargil Victory Day: PM warns Pak against practising terrorismChina pumps in subsidies worth USD 41 bn into car sectorMisc - Payments made to Government cannot be deemed to be a tax merely because statute provides for their recovery as arrears: SC CBMisc - Royalty not a tax; royalty is contractual consideration paid by mining lessee to lessor for enjoyment of mineral rights & liability to pay royalty arises out of contractual conditions of mining lease: SC CBMisc - Since power to tax mineral rights is provided for in Entry 50 of List II, Parliament cannot use its residuary powers in this subject matter: SC CBCus - Owner of goods has a liability to pay customs duty even after confiscated goods are redeemed on payment of fine - Interest follows: SC
 
Govt to infuse Rs 1364 Crores to boost competitiveness in capital goods sector

By TIOL News Service

NEW DELHI, DEC 09, 2023: THE Ministry of Heavy Industries notified the Scheme for “Enhancement of Competitiveness in The Indian Capital Goods Sector- Phase-II” with financial outlay of Rs. 1207 crores, budgetary support of Rs.975 crore and minimum Industry Contribution of Rs.232 crores. There are five main components under the Scheme. The component wise budgetary details are as under:

 

(Amount in Rs crores)

S.N.

Scheme Component

No of projects sanctioned

Total Project Cost

Total Govt. contribution

Total Industry Partner contribution

GoI contribution released till date

Industry contribution till date

1

Setting up of New Advanced Centres of Excellence and augmentation   of Existing Centres of Excellence.

9

478.89

329.29

149.60

42.52

10.63

2

Setting up of Common Engineering Facility Centres (CEFCs) and  augmentation of existing CEFCs

5

357.07

207.62

149.45

72.56

18.14

3

Augmentation of existing Testing and Certification Centres

7

195.99

155.04

40.95

93.77

23.44

4

Setting up of Industry Accelerators

8

324.33

261.09

63.24

108.63

27.16

5 Promotion of skilling in Capital Goods Sector– creation of skilling packages for skill levels 6 and above 3 7.59 7.59 0 1.01 0
  TOTAL 32 1363.87 960.63 403.24 318.49 79.37

The status of the projects sanctioned under the CG Scheme is as under:

S.N.

Scheme Component

No of projects sanctioned

1

Setting up of New Advanced Centres of Excellence and augmentation   of Existing Centres of Excellence

9

2

Setting up of Common Engineering Facility Centres (CEFCs) and  augmentation of existing CEFCs

5

3

Augmentation of existing Testing and Certification Centres

7

4

Setting up of Industry Accelerators

8

5

Promotion of skilling in Capital Goods Sector– creation of skilling packages for skill levels 6 and above

3

 

TOTAL

32

A total of 32 projects with total project cost of Rs 1363.87 crores (due to higher contribution by Industry) have been sanctioned so far under the Phase-II of the Scheme for Enhancement of Competitiveness in the Indian Capital Goods Sector.

A total of Rs. 197.4998 crores was released by MHI for the projects under CG Scheme Phase 2 during the Fiscal Year 2022-23.

This information was given by the Minister of State for Heavy Industries, Mr Krishan Pal Gurjar , in a written reply in Rajya Sabha today.

 


POST YOUR COMMENTS
   

TIOL Tube Latest

TIOL Tube
Dr. Shailendra Kumar, Chairman, TIOL Knowledge Foundation, addressing the gathering

TOP NEWS


AR not Afar by SK Rahman

VISION 360



Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.

TII LATEST

TIOLCORPLAWS LATEST