• search

Rs 1,150-crore scheme to help modernise industry

Written by: Staff
|

New Delhi, Mar 21 (UNI) The Government will help revive and modernise the Indian industry through a Rs 1,150-crore Industrial Infrastructure Upgradation Scheme (IIUS), Minister of State for Commerce and Industry Ashwani Kumar said today.

''We have sought Rs 1,150 crore under the IIUS and Rs 650 crore has already been sanctioned'', Mr Kumar told reporters after holding a meeting with 80 representatives from the Small and Medium Enterprises (SMEs) from Punjab, particularly from the border districts of Gurdaspur, Amritsar and Ferozpur.

Under the scheme, the industry clusters can come together with proposals to set up common water treatment plants or other technological upgradation plans which will be financed to the extent of 70 per cent by the Centre.

The minister said the industry, particularly in the SME sector, was crying for help and he would have a series of consultations with the industry associations throughout the country.

The industry representatives from textile, shawla and shoddy industry, forgings, auto parts, gems and jewellery and food processing met Mr Kumar and apprised him of the problems they were facing in regard to various fiscal policies of the Centre as also the procedural issues relating to the State and local authorities.

Mr Kumar said there is a ''flight of capital'' from Punjab to the neighbouring states of Jammu and Kashmir, Himachal Pradesh and Uttaranchal where a host of tax incentives have been provided by the Centre upto March 31,2007.

He said he would make efforts to get the incentives schemes rationalised so that one state does not gain at the cost of the other.

UNI PC SR BD1914

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more