New Delhi: The Centre today extended the special package for Himachal Pradesh and Uttarakhand till March 2017, a move that will help accelerate industrial growth of both the hilly states.
"The Cabinet extended the special package for the states of Himachal and Uttarakhand, which has two components - the capital investment subsidy and the freight subsidy. And this special package will continue through the 12th Plan up to 31st March 2017," Commerce and Industry Minister Anand Sharma told reporters here.
A special package for industrial development in both the states was extended by the government in 2003. In 2007, it was curtailed, before being restored till 2010.
The capital investment subsidy was one of the major component of a special industrial package offered to the states by the union government.
According to a media report, Himachal Pradesh got maximum investment from 2003 to 2010, when there was a special industrial package from the central government in force. Most investments were in pharmaceutical, food processing, textile, packaging and light engineering sectors.