NEDFi to facilitate financial assistance under UNNATI scheme

Syllad | The Rising MeghalayaMarch 10, 2024

North Eastern Development Finance Corporation (NEDFi) on Sunday said it would play a pivotal role in educating the entrepreneur community to take benefit of the Uttar Poorva Transformative Industrialization Scheme, 2024 (UNNATI – 2024), which was approved by the Union Cabinet on March 7. 

“We feel that this initiative will take the Northeastern region to a greater height and will be very encouraging,” NEDFi chairman cum managing director PVSLM Murty said.. 

Murty said that NEDFi will offer all its support facilitating the industrial community of the northeastern region to give benefits to the people of the region being the nodal agency for disbursement. 

Murty requests all the entrepreneur fraternity to approach.

NEDFi for assistance so that more investment can be generated especially in Zone B areas. 

On March 7, the Union Cabinet approved a Rs 10,037-crore new industrial development scheme – Uttar Poorva Transformative Industrialization Scheme for the promotion of industry and internal trade for 10 years from the date of notification along with 8 years for committed liabilities at a total cost of Rs.10,037 crore.

The UNNATI was formulated as a central sector scheme for the development of industries and the generation of employment in the northeastern states. The main objective of the scheme is to generate gainful employment, which will lead to the area’s overall socio-economic development. It will create productive economic activity in the manufacturing and service sectors.

The industrial development in the Northeast needs to be given a fresh thrust with emphasis on job creation, skill development, and sustainable development by attracting new investments and nurturing existing ones. 

Union Cabinet nod for Rs 10,037 crore ‘UNNATI’ scheme for industrial promotion of NE 

However, to maintain a proper balance between industrial growth and the pristine environment of the Northeast, certain industries are kept on the positive list such as Renewable energy, EV charging stations etc and there is a Negative list for certain sectors which may hamper the environment such as cement, plastic etc.