Amendment Notification No. 1(11)2002-NER, dated the 22 Oct, 2002 in regard to the Central Capital Investment Subsidy Scheme, 2002 - No. 1 (5)/2010-SPS - Indian Law

MINISTRY OF COMMERCE AND INDUSTRY (Department of Industrial Policy and Promotion) NOTIFICATION New Delhi, the 6th January, 2011 No. 1 (5)/2010-SPS.- The Central Government hereby notifies the following amendment to the Government of India Notification No. 1(11)2002-NER, dated the 22 Oct, 2002 in regard to the Central Capital Investment Subsidy Scheme, 2002 applicable to the State of Jammu Kashmir, with immediate effect: 2. Under para 5 titled Definitions , after sub-para (f), the following sub-para shall be inserted, namely :- (g) Micro, Small and Medium Enterprises means enterprises as classified under sub-section (1) of section 7 of the Micro, Small and Medium Enterprises Development Act, 2006, as amended from time to time . 3. After the existing entries against para 6, the following proviso shall be inserted, namely:- Provided that the industrial units in the Micro, Small and Medium Enterprises sector commencing commercial production or becoming operational/functional, as the case may be, on or after the 6th day of January, 2011; shall be given capital investment subsidy at the rate of 30% of their investment in plant and machinery in respect of new units or additional such investment in respect of the first and every subsequent substantial expansion, subject to a ceiling of Rs. 3.00 crore and Rs. 1.50 crore for manufacturing and services sector respectively. The limit for automatic approval of subsidy at this rate would be Rs. 1.5 crore. For grant of capital investment subsidy higher than Rs. 1 .5 crore but to a maximum of the above mentioned ceiling, there will be an Empowered Committee as in Annexure-I . 4. The benefits/incentives envisaged above shall be admissible till the existing scheme is in operation, i.e. 14 th June 2012 for Jammu Kashmir. RENU SHARMA, Jt. Secy Annexure EMPOWERED COMMITTEE 1. Secretary, DIPP Chairman 2. Secretary, Deptt. of Expenditure Member 3. Representative of Planning Commission Member 4. Secretary of the Ministry administratively Concerned with the industrial activity of the claimant Unit. Member 5. Chief Secretary/Commissioner (Industries), J K Member 6. MD, Jammu Kashmir Development Finance Corn. Member 7. Joint Secretary, DIPP Member Secretary