The gazette notification issued by the Ministry of Commerce and Industry, Department for Promotion of Industry and Internal Trade, announces amendments to the Central Interest Subsidy Scheme, 1997, effective from June 18, 2014.
The amendment pertains to the extent of admissible interest subsidy for industrial units in the North East Region, both new and existing units undergoing substantial expansion.
Key Changes
For new industrial units located in the North East Region, an interest subsidy of 3% will be provided on the working capital advanced by Scheduled Banks or Central State financial institutions for a maximum period of 10 years from the date of commencement of commercial production.
For existing industrial units undergoing substantial expansion, the interest subsidy will be 3% of the increase in working capital loan over and above the average working capital loan availed by the unit during the two financial years immediately preceding the commencement of commercial operation after the expansion.
Interest subsidy claims already considered/recommended by the SLC (State Level Committee) do not need to be reopened.
The calculation methodology as outlined in the letter/circular dated June 18, 2014, will be used for clarity and to resolve any doubts.
Impact Analysis
Stakeholders
Central Government (Ministry of Commerce and Industry): The ministry is responsible for implementing and monitoring the scheme. The notification provides clarity on the applicable rules and calculation methods.
Suggested Action Items
Ministry of Commerce and Industry: Monitor the implementation of the amended scheme and address any issues or ambiguities that may arise. Disseminate information about the scheme to relevant stakeholders.
Key Entities Referenced
Central Interest Subsidy Scheme, 1997: A government scheme to provide interest subsidies to industrial units, particularly in specific regions like the North East, to promote industrial development.
Ministry of Commerce and Industry (Department for Promotion of Industry and Internal Trade): The government ministry responsible for formulating and implementing policies related to industry promotion and internal trade.
Scheduled Banks and Central/State Financial Institutions: Financial institutions that provide working capital loans to industrial units and are responsible for disbursing the interest subsidy.
State Level Committees (SLCs): Committees at the state level that consider and recommend interest subsidy claims.
Notification No. 6(2)98-DBA-II dated 19th February 1999: The original notification establishing the Central Interest Subsidy Scheme, 1997, which is being amended by this gazette notification.
Letter/Circular dated 18.06.2014: A communication that outlines the methodology for calculating the interest subsidy, which will prevail for clarity.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
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असाधारण
EXTRAORDINARY
भाग I—खण्ड 1
PART I—Section 1
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 31] नई ददल्ली, मगं लवार, िनवरी 31, 2023/माघ 11, 1944
No. 31] NEW DELHI, TUESDAY, JANUARY 31, 2023/MAGHA 11, 1944
वाजणज्य और उद्योग मत्रं ालय
(उद्योग संवधनध और आतं ररक व्यापार जवभाग)
अजधसचू ना
नई ददल्ली, 31 िनवरी, 2023
फा. स.ं पी-44020/3/2021-डीबीए-II.—केन्द्र सरकार 'केन्द्रीय ब्याि सजब्सडी स्ट्कीम, 1997’ िीर्धक वाली भारत
सरकार की ददनांक 19 फरवरी, 1999 की अजधसूचना संख्या 6(2)98-डीबीए-II में एतद्द्वारा जनम्नजलजखत संिोधन करती
ह।ै यह संिोधन 18.06.2014 स े प्रभावी होगा।
2. ददनांक 18.06.2014 स े अनुमत सजब्सडी की सीमा के खडं -5 को जनम्नानुसार पढा िाएगा:
“5. अनमु त सजब्सडी की सीमा.”
नई इकाइयों के जलए: पूवोत्तर क्षत्रे में कहीं भी जस्ट्थत सभी पात्र औद्योजगक इकाइयों को वाजणजज्यक उत्पादन िुरू करने की
तारीख स े अजधकतम 10 (दस) वर्ों की अवजध के जलए अनुसजू चत बैंकों या केंरीय राज्य जवत्तीय संस्ट्थानों द्वारा उनको दी
गई कायधिील पूंिी पर 3% की सीमा तक ब्याि सजब्सडी दी िाएगी।
पयाप्तध जवस्ट्तार करन े वाली मौिदू ा इकाइयों के जलए: पयाधप्त जवस्ट्तार करन े वाली मौिूदा औद्योजगक इकाई के मामल े म ें
ब्याि सजब्सडी की लागू मात्रा, पयाधप्त जवस्ट्तार के बाद वाजणजज्यक संचालन िुरू होने की तारीख स े ठीक पहले दो जवत्तीय
666 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC.1]
वर्ों के दौरान औद्योजगक इकाई द्वारा प्राप्त कायधिील पूंिी ऋण के औसत के अजतररक्त कायधिील पूंिी ऋण म ें वृजि की 3%
होगी।
तथाजप, एसएलसी द्वारा पहल े ही जवचार/जसफाररि की िा चकु ी इसी प्रकार के ब्याि सजब्सडी दावों को उन्द्ह ें पनु :
खोलने की आवश्यकता नहीं ह।ै
संदेहों को दरू करन/े स्ट्पष्टता के जलए, ददनांक 18.06.2014 के पत्र/पररपत्र म ें संलग्न/प्रजतपाददत गणना की पिजत
लाग ूहोगी।
रािेंर रत् न,ू संयुक्त सजचव
MINISTRY OF COMMERCE AND INDUSTRY
(Department for Promotion of Industry and Internal Trade)
NOTIFICATION
New Delhi, the 31st January, 2023
F. No. P-44020/3/2021-DBA-II.–The Central Government hereby makes the following amendment in the
Government of India Notification No. 6(2)98-DBA-II dated 19th February 1999 titled ‘Central Interest Subsidy
Scheme, 1997’. The amendment shall come to effect from 18.06.2014.
2. W.e.f.18.06.2014 clause 5 of the extent of admissible subsidy shall be read as under:
―5. 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.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.