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Dr Jitendra announces subsidy incentives for employment generating units

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NEW DELHI: Ministry of Development of North-Eastern Region (DoNER) will offer subsidy incentives in Northeast for industrial and other units generating employment.
Announcing this on the conclusion of a meeting of the Ministry here this morning, Union Minister of State (Independent Charge) for Development of North Eastern Region (DoNER), Dr Jitendra Singh said that, as a policy, the Ministry will encourage such entrepreneurship and business establishments which generate employment for the youth in the region. 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. This will be accomplished in consultation with Union Ministry of Finance, he added.
Spelling out the action plan for the year to come, Dr Singh gave details of Venture capital funds as another incentive for those undertaking “Startup” initiatives in the North-Eastern region. This will be an added attractive feature for youth from all over India who wish to avail the benefit of Prime Minister’s “Startup India, Standup India” programme by setting up an establishment in Northeast.
Dr Jitendra referred to a meeting held recently with 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 in expediting 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.
DoNER Ministry, said Dr Singh, 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 CB and TA scheme.
Union Secretary DoNER Naveen Verma and Joint Secretaries A.M Singh and S.L Meena were among the senior officers present in the meeting.

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