Uttar Poorva Transformative Industrialization Scheme, 2024

Context

The Union Cabinet has approved the ‘Uttar Poorva Transformative Industrialization Scheme (UNNATI-2024)’ as proposed by the Prime Minister of India.

Details about Uttar Poorva Transformative Industrialization Scheme – 2024

About

The Uttar Poorva Transformative Industrialization Scheme put into effect in 2024 had remained one of the most ambitious initiatives on the part of the Indian government toward resurgence of the industrial landscape in the northeastern part of the country. It has the aim of the special potential of the place and its challenges through sustainable development.

Objectives

Economic Revitalization: Propel the economy of the northeastern states through diversified industrial activities.

Resource Utilisation: Harness and utilise the rich natural resources of the region in a sustainable manner.

Employment Generation: Create substantial employment opportunities to curb migration and uplift local economies.

Eco-friendly Industrial Growth: Promote industries that align with ecological conservation principles.

Scheme Features

Financial Incentives: Attractive financial incentives in the form of conducive tax rebates, reduction of GST rates for new industries, and various subsidies for business perspectives focusing on sustainability practices.

Infrastructure Development: Upgradation of the existing transportation networks, setting up of new industrial corridors, and upgradation of power grids with a focus on renewable sources of energy.

Comprehensive Skill Development: Launch of specialised training centres and vocational institutes focusing on industrial skills, digital technology, json, and entrepreneurship.

Stringent Environmental Regulations: Introduction of eco-industrial parks is one of the factors acting as an impetus for environmental quality decline in most countries.

Challenges

Infrastructure Gaps: Exact current infrastructure insufficiencies, for example, connectivity and power supply.

Socio-Economic Diversities: Understanding the Socio-Economic diversities of the process of implementation, including the integration of multicultural and sociocultural dynamics.

Balancing the role of development and ecology: Ensure that the created industrialization in that place does not create ecological imbalance along with the depletion of natural resources.

Way Forward

Focused Industrial Clusters: With a focus, specific industrial clusters will be created for organic farming, textiles, and technology tourism. 

Renewable Energy Adoption: Encouraging industries to adopt renewable energy sources and energy-efficient technologies. 

Stakeholders’ involvement: The local government, community members, and efforts of NGOs should be in toto at the level of planning and decision-making. 

Monitoring and Evaluation: Establishing robust mechanisms for regular monitoring and assessment of the scheme’s impact.

Conclusion

Uttar Poorva Transformative Industrialisation Scheme is aiming to bring industries to the region. The scheme includes overall development of the area including industrial development along with development from the perspective of conservation of rich cultural and environmental heritage of the region, hence can become an example of balanced and sustainable development.

Source: PIB

UPSC Prelims Practice Questions

Q.Under the UNNATI 2024 scheme, which one of the following incentives is provided to both new and expanding industrial units in the NorthEast Region?

a. Capital Investment Incentive

b. Special Technology Upgradation Fund

   c. Exclusive Export Promotion Subsidy

   d. Special Agricultural Infrastructure Fund

Ans – “c”

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