The Union Cabinet approves North-East Industrial Development Scheme (NEIDS) 2017

The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the North East Industrial Development Scheme (NEIDS), 2017 with financial outlay of Rs.3000 crores upto March, 2020. Government will provide necessary allocations for remaining period of scheme after assessment before March 2020. NEIDS is a combination of the incentives covered under the earlier two schemes with a much larger outlay. In order to promote employment in the North East States, Government is incentivising primarily the MSME Sector through this scheme and is also providing specific incentive through it to generate employment. The newly introduced scheme will promote industrialization in the States of the North Eastern Region and will boost employment and income generation. All eligible industrial units which are getting benefits of one or more components of other schemes of the government will also be considered for benefits of other components of this scheme. The overall cap for benefits under all components of incentives will be of Rs 200 crores per unit.