In India, projects having a minimum investment of Rs. _____ Crore in plant & machinery shall be considered for establishment as EOUs.
Show answer & explanation
Correct answer: C
Explanation
In India, projects with a minimum investment of ₹1 crore in plant and machinery will be considered for setting up as EOUs (Export Oriented Units).
Key Information about the EOU Scheme:
Objective: The main objective of this scheme is to promote exports, earn foreign exchange, and create employment opportunities in the country.
Minimum Investment Limit: Generally, the minimum investment in plant and machinery should be ₹1 crore. However, this limit may be lower for specialized sectors such as agro-processing, software, and handicrafts.
Export Commitment: These units are required to export a significant portion of their goods or services abroad.
Benefits: These units receive benefits such as duty exemptions on imports of raw materials and capital goods, tax benefits, and faster customs clearance.