SHIMLA: Chief Minister Thakur Sukhvinder Singh Sukhu's efforts have led to a boost in the Industrial Development Scheme (IDS) for Himachal Pradesh.
Industries Minister Harshwardhan Chauhan announced today earlier it was set at Rs. 131 crore in 2017. The previous IDS allocation fell short, causing delays in disbursing subsidies to deserving industries.
However, thanks to Chief Minister Sukhu's relentless pursuit, the Central Cabinet has now greenlit a remarkable Rs. 1164.53 crore for the IDS scheme benefiting Himachal Pradesh and Uttarakhand.
Under this revamped IDS, industrial units engaged in manufacturing, biotechnology, and hydropower generation (up to 10MW) in these states will enjoy various incentives.
These include a 30 percent Central Capital Investment Incentive for Plant and Machinery, capped at Rs. 5.00 crore, and a Central Comprehensive Insurance Incentive (CCI) covering 100 percent of insurance premiums on buildings and machinery for five years from the start of commercial production.
This increased funding is a major boost for the industrial sectors in Himachal Pradesh and Uttarakhand.
The State Government is committed to fast-tracking pending cases and ensuring prompt fund disbursement to deserving units, reaffirming its dedication to fostering industrial growth, employment, and entrepreneurship.
The Central Government's recognition of the scheme's potential to transform the region's industrial landscape is appreciated.