New Delhi, Mar 21 (UNI) The Union Cabinet on Wednesday approved North East Industrial Development Scheme (NEIDS) 2017 with financial outlay of Rs 3,000 crore up to March 2020.

The Union Cabinet was chaired by Prime Minister Narendra Modi.

The Government will provide necessary allocations for remaining period of scheme after assessment before March 2020, an official statement said.

NEIDS is a combination of the incentives covered under the earlier two schemes with a much larger outlay.

In order to promote employment in the North East states, the Government is incentivising primarily the MSME Sector through this scheme. The Government is also providing specific incentive through the scheme to generate employment.

All eligible industrial units, which are getting benefits of one or more components of other schemes of the Government of India, will also be considered for benefits of other components of this scheme.

The overall cap for benefits under all components of incentives will be of Rs 200 crore per unit.

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