Dibrugarh: Rapid development of the North East region is a matter of top most priority of the UPA government. Investments are being stepped up in education and health. Also, the North-East Industrial Policy, which will come in force from 2007 has been recently approved.
The North East Industrial and Investment Policy (NEIIPP) 2007 cleared by Cabinet Committee on Economic Affairs (CCEA) include Assam and seven other states in the region and provides liberal fiscal incentives for 10 years.
According to an official spokesperson of the party“Industries can come up anywhere in the region. Capital investment subsidy has been raised to 30% with automatic approval of upto Rs 1.5 crore. This would cover new areas such as hotels and hospitals,”
He also said the government was working for the revival of industries in these states and minister of state for commerce Jairam Ramesh has formulated a detailed package in this regard.
Earlier speaking on the occasion, petroleum minister Murli Deora said, the project will be set up with an investment of Rs 5461 crore with a capital subsidy of Rs 2138 crore from the Union Government. The plant will come up within 60 months.
The project is expected to generate substantial employment opportunities, both direct and indirect, in the region. It will also attract substantial investments by way of setting up downstream plastic processing industries.