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UP govt announces skill development subsidy under its EV policy

Updated: May 11, 2023 02:14:52pm
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UP govt announces skill development subsidy under its EV policy

Lucknow, May 11 (KNN) The Uttar Pradesh government on Wednesday announced a skill development subsidy under its electric vehicle policy.

The subsidy will be provided to companies investing in EV manufacturing in the state.

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The Uttar Pradesh government will provide a one-time subsidy of Rs 5,000 per employee per year to a maximum of 50 employees in the form of reimbursement of stipend for all defined manufacturing projects, an official statement by the government said.

Under this provision, a subsidy will also be paid for training a maximum of 10 employees in a particular year, it said.

However, the incentive is only applicable to those employees who are employed in the applicant manufacturing unit for a period of 12 months prior to joining the training programme.

As per reports, to be eligible for this subsidy, this training program should be certified by National Skill Development Corporation or Uttar Pradesh Skill Development Mission or any Central/State University/College or ITI/Polytechnic.

Further, all incentive benefits will be provided only after the commencement of commercial production as per the provision made in the EV policy, the release said.

“The aggregate of all financial incentives for manufacturing projects should not exceed 100 per cent of the fixed capital investment,” it said.

The Uttar Pradesh government in the recent times has been taking various initiatives to attract investments in its EV sector.  (KNN Bureau)

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