Consider the following statements regarding Modified Special Incentive Package Scheme 1 The scheme p...........

Economic Affairs Industrial sectors

Consider the following statements regarding Modified Special Incentive Package Scheme:

1. The scheme provides subsidy for investments in capital expenditure - 30% for investments in SEZs and 25% in non-SEZs

2. The incentives are available for investments made in a project within a period of 10 years from the date of approval.

Which of the statements given above is/are correct?

1 only

2 only

both

none

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Explanation:

This scheme provides a special incentive package to promote large-scale manufacturing in the Electronic System Design and Manufacturing (ESDM) sector. The Main features of M-SIPS are as follows:
The scheme provides subsidy for investments in capital expenditure - 20% for investments in SEZs and 25% in non-SEZs. It also provides for reimbursement of CVD/excise for capital equipment for the non-SEZ units. For high technology and high capital investment units, like fabs, reimbursement of
The incentives are available for investments made in a project within a period of 10 years from the date of approval