TODAY -
Plea for structural changes in NE industrial policy
Assam Tribune | GUWAHATI | 7 June 2014
The Confederation of Real Estate Developers’ Associations of India (CREDAI) has made strong pleas for structural changes in the NE Industrial and Investment Policy (NEIIP). It has expressed serious concern over the fact that the people of the North Eastern region of the country are made to pay the highest price for construction materials. This has made affordable housing virtually impossible in the region. Significantly, this is despite the fact that the NEIIP of the Government of India, has made provisions for lofty subsidies to the region’s industries engaged in manufacturing construction materials like cement and steel, said the CREDAI.
The list of subsidies enjoyed by the construction material manufacturing industries in the region includes 100 per cent income tax exemption, exemption of excise duty, transport subsidy, manpower subsidy, power subsidy, genset subsidy, 30 per cent capital subsidy, 99 per cent VAT exemption, interest subsidy on working capital and 100 per cent reimbursement of insurance premium.
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* This Post is uploaded on June 08, 2014
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