Guwahati, July 10: If you want to invest in Meghalaya, then do so in industrially backward districts as you will get more incentives.
Under the Uttar Poorva Transformative Industrialization Scheme (UNNATI), 2024- the new industrial policy for Northeast, districts have been categorised into two zones. ‘Zone A and Zone B Districts’ means Zone A (Industrially Advanced Districts) and Zone B (Industrially Backward Districts) based on the NER Districts SDG Index prepared by NITI Aayog, UNDP and Ministry of Development of North Eastern Region. Additional incentives are being provided to units investing in Zone B districts to stimulate economic growth in these regions.
In Meghalaya out of 12 districts, there are 9 districts which have been kept in Zone B( Industrially Backward Districts). The nine districts are West Khasi Hills, South West Garo Hills, East Jaintia Hills, East Garo Hills, Ri Bhoi, South West Khasi Hills, South Garo Hills, North Garo Hills and Eastern West Khasi Hills. The districts which are in Zone A( Industrially Advanced Districts) are East Khasi Hills, West Jaintia Hills and West Garo Hills.
The Centre says UNNATI is more than just a scheme; it serves as a catalyst for regional progress, fostering economic growth and development.
The scheme is already effective from March 9 of this year and will remain in force up to and inclusive of March 8, 2034, and 8 more years for meeting committed liabilities. Registration will continue till March 31, 2026 subject to the guidelines issued in this regard. The DPIIT, Ministry of Commerce & Industries is responsible for monitoring and implementing the UNNATI scheme. The eligible incentives are accessible to New units and Existing units undergoing substantial expansion.
All eligible units located in Zone A District in the States of North-Eastern Region will be provided Capital Investment Incentive @30% of the eligible investment made in plant and machinery (for the manufacturing sector) or for construction of building and installation of other durable physical assets (for services sector) with a maximum limit of Rs. 5 crore. For those sectors where GST is not applicable, the maximum limit of this incentive will be Rs. 10 crore.
All eligible units located in Zone B category blocks in the States of the North-Eastern Region will be provided Capital Investment Incentive @50% of the eligible investment made in plant and machinery (for manufacturing), or for construction of building and installation of other durable physical assets (for services sector) with a maximum limit of Rs.7.50 crore. For those sectors where GST is not applicable, the maximum limit of this incentive will be Rs. 10.00 crore
All eligible units located in Zone A category blocks in the States of the North-Eastern Region can avail of Capital Interest Subvention at the annual rate of interest of 3% for a maximum of 7 consecutive years from any date after the date of application for registration under this scheme. However, disbursement of the eligible amount under this incentive shall begin only after the commencement of commercial production.
All eligible units located in Zone B category blocks in the States of the North-Eastern Region can avail of Capital Interest Subvention at the annual rate of interest of 5% for a maximum of 7 consecutive years from any date after the date of application for registration under this scheme. However, disbursement of the eligible amount under this incentive shall begin only after the commencement of commercial production.
