In a significant stride towards fostering industrial development in the Northeastern region, the Central Government has launched the UPSC Unnati Scheme 2024. This transformative industrialization plan, with a substantial budget of Rs 10,037 crore, marks a pivotal step towards generating employment opportunities and catalyzing economic growth in the region.
The UPSC Unnati Scheme 2024 aims to instigate productive economic activities in both manufacturing and service sectors, thereby contributing to the overall social and economic advancement of the country. Scheduled to be effective from the date of notification until March 31, 2034, this scheme holds the promise of bringing about a new era of development in the North-East.
Overview of the UPSC Unnati Scheme 2024:
| Scheme Name | UPSC Unnati Scheme 2024 |
| Objective | Foster industrial growth and generate employment in Northeast India |
| Financial Outlay | Rs. 10,037 crore |
| Duration | Till March 31, 2034 |
| Application Period | Till March 31, 2026 |
| Implementation Oversight | DPIIT and Monitoring Committees |
| Zone Classification | Zone A (Industrially Advanced) and Zone B (Industrially Backward) |
| Employment Opportunities | Estimated 83,000 direct employment opportunities |
| Incentives Offered | Capital Investment, Central Capital Interest Subvention, Manufacturing, and Services-Linked Incentive |
| Focus Areas | Productive economic activities in manufacturing and services sectors |
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Under the UPSC Unnati Scheme, the allocated funds have been divided into two parts. The first part, amounting to Rs 9,737 crore, is designated for providing incentives to eligible units, while the second part entails Rs 300 crore for the implementation and institutional arrangements of the scheme.
Key Objectives and Features:
- Employment Generation: The scheme endeavors to create an estimated 83,000 direct employment opportunities, along with a multitude of indirect employment avenues, thereby fostering socio-economic progress in the region.
- Implementation and Monitoring: The Department for Promotion of Industry and Internal Trade (DPIIT) will oversee the implementation of the scheme. Monitoring committees at the national and state levels, including the Steering Committee and State Level Committee, will ensure effective execution and monitoring.
- Zone Classification: Districts have been categorized into two zones – Zone A comprising industrially advanced districts and Zone B encompassing industrially backward districts. This zoning strategy aims to tailor interventions based on the specific industrial landscapes of each region.
Incentives Offered:
- Capital Investment Incentive: Both new and expanding units are eligible for this incentive, catering to units under both GST and non-GST regimes.
- Central Capital Interest Subvention: Available for new and expanding units, this subvention applies to both GST and non-GST units, providing crucial financial support for industrial endeavors.
- Manufacturing and Services-Linked Incentive: Designed exclusively for new units, this incentive aims to spur growth in manufacturing and service sectors, bolstering economic activity and capacity building.
The UPSC Unnati Scheme 2024 stands as a beacon of hope for the North-East, promising a brighter future through industrial growth and employment generation. With its comprehensive framework and targeted incentives, the scheme is poised to unlock the region’s untapped potential, paving the way for inclusive development and prosperity. As stakeholders engage with this transformative initiative, the vision of a thriving and resilient North-Eastern economy inches closer to fruition.
