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What is the significance of the special assistance scheme for capital investment

Information on the latest capital investment scheme by the Indian government.
The Special Assistance Scheme for Capital Investment aims to provide financial assistance to the entrepreneurs in India who are willing to invest in capital-intensive products and services. The scheme is a part of the Atmanirbhar Bharat mission, which aims to promote self-reliance and economic growth in India. Here are some key points about the latest capital investment scheme by the Indian government:
  • Under this scheme, the government will provide a capital subsidy of 30% of the eligible investment in plant and machinery, subject to a maximum of Rs. 5 crores.
  • The scheme is applicable to micro, small and medium enterprises (MSMEs) that manufacture products or provide services that are covered under the Production Linked Incentive (PLI) scheme.
  • The scheme aims to encourage the growth of the manufacturing sector in India, which will in turn create job opportunities and boost the economy.
  • The scheme also provides an opportunity for Indian companies to compete with their counterparts in other countries in terms of quality and cost-effectiveness.
  • The scheme is expected to benefit around 7,000 MSMEs and create 2.5 lakh jobs in the next five years.
Overall, the special assistance scheme for capital investment is a step towards achieving the goal of self-reliance for India and promoting its economic growth.
Answered 2 years ago
Amrita Aspirants