The Union Cabinet, under Prime Minister Narendra Modi’s leadership, has approved the Uttar Poorva Transformative Industrialization Scheme, 2024 (UNNATI – 2024). With a significant financial commitment, the scheme will be implemented with a total outlay of Rs. 10,037 crore for a duration of 10 years, along with an additional 8 years for committed liabilities.
Scheme Dynamics
Under the UNNATI-2024 scheme, investors will be offered incentives for setting up new units or expanding existing ones. These incentives include capital investment incentives, central capital interest subvention, and manufacturing and services linked incentives. Notably, the scheme aims to attract investment and promote industrial growth in the North East Region (NER).
Insights into UNNATI-2024
Designed to foster industrial development and employment generation, UNNATI-2024 is a central sector scheme led by the Ministry of Commerce and Industry. The primary objective is to create gainful employment opportunities, thereby contributing to the overall socio-economic development of the region.
Advantages of the Scheme
UNNATI-2024 holds the potential to generate substantial direct and indirect employment opportunities, with an estimated 83,000 individuals expected to benefit during the scheme period. By promoting productive economic activity in the manufacturing and service sectors, the scheme aims to bolster industrial growth and uplift the socio-economic landscape of the North East Region.
Key Data Points
Budget Outlay: Rs. 10,037 crore
Duration: 10 years from the date of notification, with an additional 8 years for committed liabilities
District Classification: Zones A (Industrially Advanced Districts) & B (Industrially Backward Districts)
Fund Allocation: 60% earmarked for 8 NE states, 40% on First-In-First-Out (FIFO) basis
Employment Projection: Approximately 83,000 direct employment opportunities expected
Eligibility: All new and expanding industrial units eligible for incentives
The UNNATI-2024 scheme represents a significant step towards promoting industrialization and employment generation in the North East Region. With a focus on inclusive growth and sustainable development, the scheme is poised to unleash the region’s untapped potential, driving economic prosperity and social progress.
