New Delhi: In order to strengthen infrastructure development in Jammu and Kashmir, Uttrakhand, Himachal Pradesh and North Eastern region the Union Government is going to revamp Transport Subsidy Scheme (TSS).

Under the special package provided to these States, Central Government will provide subsidy of 15 to 30 percent on plant and machinery.

In a meeting attended by Industry Ministers of the states, the Union Minister of Commerce, Industry and Textiles Shri Anand Sharma said, “Centre is going to remodel this scheme on the basis of discussion with respective State Governments.”

The Transport Subsidy Scheme was introduced way back in 1970s. But the Government is making amendments to TSS as per the current needs.

While addressing the ministers from these states Sharma said, “after revamping the old Scheme it will be referred to the Cabinet for consideration.”

“The scheme was introduced to offset the high transportation cost because of poor infrastructure and geographical inaccessibility in these States, but now with the help of this scheme Centre  wants to strengthen infrastructure development in these states,” said Sharma.

According to Sharma, the subsidy of 15 to 30 percent on plant and machinery will be provided as capital investment subsidy.”

(JPN/Bureau)