Agartala, May 13 (UNI) The 56th NEC plenary session has unanimously resolved to exert pressure on the Centre with regard to the modification of North East Industrial Investment Promotion Policy (NEIIPP) related to excise duty payment to the states.
NEC officials said here today that the council members had been demanding to issue a fresh notification on the Central Excise Duty, which the NE states found, was adversely affecting prospect of industrial investment in the region.
''The members pointed out that under the NEIIPP, the existing notification should be immediately revoked and a fresh notification be put in place in conformity with aims and objectives of the policy,'' the officials said, adding that the High Level Committee on NEIIPP, which met on May 7, also came to detailed conclusion about the discrepancies with the impugned notification.
The Committee, among others, found that the impugned notification jeopardised the planned investment and had an impact on utilisation of local raw materials in a big way.
The Committee also pointed out that since the emphasis was on promotion of industries based on local raw materials, the impugned notification would adversely affect the aims and objectives of the policy, reduce the quantum of excise refund and Small Scale Industries (SSIs) would also lose their advantages, officials added.
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