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MINISTRY OF COMMERCE AND INDUSTRY

(Department for Promotion of Industry and Internal Trade)

NOTIFICATION

New Delhi, the 31st January, 2023

No. P-44020/3/2021-DBA-II.The Central Government hereby makes the following amendments in the Government of India Notification No. 10(3)/2007-DBA-II/NER dated the 27th July 2007 titled ‘Central Interest Subsidy Scheme, 2007’ respectively.

2. W.e.f. 18.06.2014, clause 5 of the extent of admissible subsidy shall be read as under:

“5. The extent of admissible subsidy.”

For new units: all eligible industrial units located anywhere in the North East Region shall be given an interest subsidy to the extent of 3 % on the working capital advanced to them by the Scheduled Banks or Central State financial institutions for a maximum period of 10(ten) years from the date of commencement of commercial production.

For existing units undergoing substantial expansion: the quantum of interest subsidy eligible in the case of an existing industrial unit which has gone for substantial expansion will be 3% of the increase in working capital loan over and above the average of the working capital loan availed by the industrial unit during two financial years just preceding the date of commencement of commercial operation after undergoing substantial expansion”.

However, similar interest subsidy claims that have already been considered/recommended by the SLC need not be reopened.

For the removal of doubts/for the sake of clarity, the methodology for calculation as appended/enunciated in the letter/circular dated 18.06.2014 shall prevail.

RAJENDRA RATNOO, Jt. Secy.

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