What is the significance of the special assistance scheme for capital investment
Information on 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.
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2 years ago