Centre release Rs 541 crore for the industries of NE States

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New Delhi, Apr 2 (UNI) The Government in a bid to boost the pace of industrialisation in the North Eastern Region (NER) has released Rs 541 crore for industrialisation in NER.

According to an official release issued here today, the funds are part of Rs 766 crore that have been released by the Centre by March 31, this year towards industrialisation project in the country's remote region.

In order to promote industrialisation in the remote hilly and inaccessible areas, the Central Government introduced the Transport Subsidy Scheme (TSS) in July 1971. This scheme is presently applicable to fourteen States/union Territories including eight NE States.

The scheme provides for subsidy upto 90 per cent of the cost incurred on transportation of raw material and finished goods, for a maximum period of six years.

Ever since the inception of the Scheme till 2004, only Rs 507.61 crores were released in those 31 years for the NE States, the release said.

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