Cabinet approves Rs 1,100 cr for industrial dev scheme for HP, Uttarakhand

The cabinet on Wednesday approved additional allocation of over Rs 1,100 crore for the industrial development scheme, 2017 for Himachal Pradesh and Uttarakhand, sources said.

The additional fund was required to meet the liabilities under the scheme up to 2028-29. Under this scheme, the total financial outlay was Rs 131.90 crore.

A decision in this regard was taken in the meeting of the Union Cabinet, chaired by the Prime Minister Narendra Modi, they said.

The government provides different incentives under the scheme to companies for investment in these two states, they added.

The incentives include access to credit and insurance.