Assistance of Capital and Interest Subsidy for New Machinery
Eligible new Unit:
- New enterprise during operative period of the scheme such enterprise has to commence production during the operative period.
- Moreover Existing enterprises carrying out new investment at other location to manufacture same / new end product which has filed Separate EM-II and commences commercial production during the operative period of the scheme will be consider as new enterprise.
- The new Enterprise should have separately identifiable capital investment.
- ‘Seperately identifiable capital investment’ means it should not have any production linkage with the existing manufacturing process and the product should be a separate product in itself with independent marketability. The new unit should be in a separate building, should maintain separate books of accounts and the project should be appraised independently by financial institution as a viable project.
- Such new enterprise will be eligible for assistance as a New enterprise and one time for expansion/diversification during the operative period of the scheme.