Daily Current Affairs : 9-March-2024

The Union Cabinet has approved a sizeable initiative referred to as the Uttar Poorva Transformative Industrialization Scheme (UNNATI – 2024). This scheme, lasting for ten years, aims to enhance commercial improvement and create employment opportunities in the Northeast Region (NER) of India. This essay will delve into the key factors of the UNNATI – 2024 scheme.

Purpose of UNNATI – 2024

The primary intention of the UNNATI – 2024 scheme is to attract buyers to either set up new business units or expand existing ones within the Northeast. This initiative will help transform the region’s economic landscape by fostering growth in diverse sectors.

Positive and Negative Lists

To ensure environmental protection, the scheme categorizes industries into two lists:

  • Positive List: Industries that are recommended and could receive support.
  • Negative List: Industries that are restricted to preserve ecological balance.

Scheme Details

Duration and Coverage
  • Duration: The scheme will run for 10 years, with an option for an additional eight years to cover committed liabilities.
  • Eligibility: All new commercial units and those trying to expand are eligible for benefits under this scheme.
Financial Incentives

The UNNATI – 2024 scheme presents substantial financial incentives:

  • Maximum Benefit: Up to Rs 250 crore can be granted to each eligible unit.

District Categorization

The districts in the Northeast are labeled into two zones:

  • Zone A: Industrially advanced districts.
  • Zone B: Industrially backward districts.

Structure of the Scheme

The scheme is split into two fundamental components:

  • Part A: Focuses on incentives for eligible units.
  • Part B: Outlines implementation and institutional arrangements.

Fund Allocation

The funding for the scheme is earmarked as follows:

  • 60% allocated to the 8 Northeastern states.
  • 40% distributed on a First In, First Out (FIFO) basis.

Implementation and Oversight

The implementation of UNNATI – 2024 may be overseen by the Department for Promotion of Industry and Internal Trade (DPIIT). Several committees will ensure effective management:

  • Steering Committee: To provide strategic direction.
  • State Level Committee: To address local needs.
  • Secretary Level Committee: To oversee administrative matters.

Related Initiatives

UNNATI – 2024 works alongside other schemes geared toward regional improvement:

  • PM DevINE Scheme: Aims at infrastructure development.
  • NITI Forum for North East: Focuses on policy recommendations.
  • North East Special Infrastructure Development Scheme: Enhances infrastructure in the region.

Important Points:

  • UNNATI – 2024 Overview:
    • Approved by the Union Cabinet.
    • Duration: 10 years, with a possible 8-year extension for committed liabilities.
    • Aims to boost industrial development and create jobs in the Northeast Region (NER).
  • Purpose:
    • Attracts investors to establish new or expand existing industrial units.
    • Aims to transform the region’s economic landscape.
  • Industry Categorization:
    • Positive List: Industries that receive support.
    • Negative List: Industries restricted for environmental protection.
  • Scheme Details:
    • Eligibility: Open to all new and expanding commercial units.
    • Financial Incentives: Maximum benefit of up to Rs 250 crore per eligible unit.
  • District Categorization:
    • Zone A: Industrially advanced districts.
    • Zone B: Industrially backward districts.
  • Structure:
    • Part A: Incentives for eligible units.
    • Part B: Implementation and institutional arrangements.
  • Fund Allocation:
    • 60% earmarked for the 8 Northeastern states.
    • 40% distributed on a First In, First Out (FIFO) basis.
  • Implementation and Oversight:
    • Managed by the Department for Promotion of Industry and Internal Trade (DPIIT).
    • Oversight committees:
      • Steering Committee for strategic direction.
      • State Level Committee for local needs.
      • Secretary Level Committee for administrative oversight.
  • Related Initiatives:
    • PM DevINE Scheme: Infrastructure development.
    • NITI Forum for North East: Policy recommendations.
    • North East Special Infrastructure Development Scheme: Infrastructure enhancement.

Why In News

The Union Cabinet approved the Uttar Poorva Transformative Industrialization Scheme, 2024 (UNNATI – 2024) for a duration of 10 years, aiming to incentivize investors to set up new units or expand existing ones, thereby fostering economic growth and job creation in the Northeast Region of India.

MCQS about UNNATI 2024

  1. What is the primary goal of the UNNATI – 2024 scheme?
    A. To promote environmental conservation
    B. To attract investors to set up new or expand existing industrial units
    C. To develop infrastructure in urban areas
    D. To increase tourism in the Northeast
    Correct Answer: B. To attract investors to set up new or expand existing industrial units.
    Explanation: The main purpose of the UNNATI – 2024 scheme is to incentivize investors to establish or expand industrial operations in the Northeast Region, thereby promoting economic growth.
  2. Which list categorizes industries that are encouraged under the UNNATI – 2024 scheme?
    A. Restricted List
    B. Negative List
    C. Positive List
    D. Environmental List
    Correct Answer: C. Positive List.
    Explanation: The scheme includes a Positive List, which consists of industries that are encouraged and eligible for support, while the Negative List includes industries that are restricted for environmental reasons.
  3. What percentage of funds is allocated to the eight Northeastern states under the UNNATI – 2024 scheme?
    A. 40%
    B. 60%
    C. 70%
    D. 50%
    Correct Answer: B. 60%.
    Explanation: The scheme earmarks 60% of its funding specifically for the eight Northeastern states, with the remaining 40% distributed on a First In, First Out (FIFO) basis.
  4. Which agency is responsible for overseeing the implementation of the UNNATI – 2024 scheme?
    A. Ministry of Tourism
    B. Department for Promotion of Industry and Internal Trade (DPIIT)
    C. Ministry of Rural Development
    D. National Development Council
    Correct Answer: B. Department for Promotion of Industry and Internal Trade (DPIIT).
    Explanation: The DPIIT is tasked with managing the implementation of the UNNATI – 2024 scheme and will oversee various committees that ensure effective execution.

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