Status of compliance on scheme of Integrated Textile Parks

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..... Status of compliance on scheme of Integrated Textile Parks - News and Press Release Dated:- 8-11-2012 - News - Press Information Bureau Government of India Cabinet Committee on Economic Affairs (CCEA) 08-November-2012 13:5 IST The Cabinet Committee on Economic Affairs today approved to start implementation and issuing financial sanction to the 21 parks sanctioned in the 11th Plan .....

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..... and to carry over the committed liability beyond Rs.200 crore amounting to Rs.819 crore into the 12th Plan, in amendment of the approval granted by the CCEA in October, 2010. The CCEA further approved the adoption of amendments in guidelines of the scheme to improve implementation. Background: The scheme of Integrated Textile Parks has been successful in terms of leveraging private secto .....

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..... r investment, employment generation and creation of need-based and product based world class state of the art infrastructure for the industry. With the increasing costs of production in the established clusters and highlighted emphasis on environmental compliances, there is a growing need for establishment of such green field textile parks. In October 2010, the CCEA approved a proposal for Sanc .....

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..... tion of additional Parks under SITP to utilize the balance Rs.200 crore in the 11th Plan and number of projects to be limited in such a way that committed liability of the new Parks does not exceed Rs.200 crore in the 12th Plan . In accordance with this decision, 21 parks were sanctioned. The process of releases took longer than anticipated and therefore funds available in the 11th Plan could no .....

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..... t be utilized. *** SC/SK/LM - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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