Incentives to be given to employment generating units in North-East: Jitendra Singh

NEW DELHI: Employment-generating industrial and other units in the Northeast will be given incentives by the government, DoNER Minister Jitendra Singh said today.

The Ministry of Development of North Eastern Region (DoNER) will offer subsidy incentives in the Northeast for industrial and other units generating employment as a policy to encourage them, he said here.

Singh said that as a policy, the Ministry will encourage such entrepreneurship and business establishments which generate employment for youth in the region, an official release said.

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.

Spelling out the action plan for the year to come, the Minister gave details of venture capital funds as another incentive for those undertaking 'Startup' initiatives in the region.

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

Singh referred to a meeting held recently with the North Eastern Space Applications Centre (NESAC) wherein it was decided to carry out satellite-based survey for planning and monitoring of projects in the region.

This, he said, will help expedite the projects and also avoid discrepancies. In a similar initiative, he said, all the 8 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.

The Minister said 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).

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