Employment Generating Units in NE to get Subsidy

Ministry of Development of North-Eastern Region (DoNER) has decided to offer subsidy as incentive to industrial and other units which generate employment in Northeast.

Dr. Jitendra Singh, Union Minister of State DoNER, announced this yesterday after the meeting of DoNER. He said that, as a policy, the Ministry will encourage such entrepreneurship and business establishments which generate employment for the youth in the region.

For this purpose, he said, the assistance to North Eastern Development Finance Corporation (NEDFI) would incorporate a component of higher interest subsidy for such units which give more employment. DoNER Ministry is coordinating with Union Ministry of Finance in this regard, he added.

The action plan:

Spelling out the action plan for the year to come, Dr. Jitendra Singh gave details of Venture capital funds as another incentive for those undertaking "Startup" initiatives in the North-Eastern region.

This will be an added attractive feature for youth from all over India who wish to avail the benefit of Prime Minister's "Startup India, Standup India" programme by setting up an establishment in Northeast.

It has already been decided with the North Eastern Space Applications Centre (NESAC) to carry out satellite based survey for planning and monitoring of projects in the region. This it is believed, will help in expediting the projects and also avoid discrepancies.

Also all the eight States of Northeast region have agreed to cooperate in carrying out geo-tagging by giving GPS details of various ongoing schemes in the respective States.

Ministry's other initiatives:

DoNER Ministry will also take up waste management project under North East Rural Livelihood Project (NERLP) and North Eastern Region Community Resource Management Project (NERCORMP).

The Ministry would study the other tried models of waste management including the Tamil Nadu model under the Capacity Building &. Technical Assistance (CB&TA) scheme.