india

Updated: Jun 04, 2019 19:12 IST

The Tripura’s BJP-IPFT government has brought an amendment in the industrial investment promotion scheme to invite investments that will open gates for more jobs.

The industrial investment promotion scheme was first initiated in 1995. The scheme was amended in 2002, 2007, 2012 and 2017 and this allowed subsidy for investments in small and medium scale industries. The current revised scheme would allow subsidy for investments in large scale industries too.

“We stressed mainly on creating job opportunities. We have amended the scheme to invite industrial investments in the state. This will help in creation of jobs,” Law Minister Ratan Lal Nath told the reporters after the cabinet meeting at Civil Secretariat on Monday evening.

The revised scheme would provide five percent subsidy on interests of bank loans to establish industries here. It would also fully waive state Goods and Service Taxes under industrial promotion subsidy.

The industrialists would get 25% subsidy on electricity bills in their units. The state government would bear expenses of the industrial workers’ Employees Provident Fund along with providing 10% subsidy each for transportation and export promotion under this revised scheme.