what are the source of finance for backward and hilly area industries
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The Government of India offers certain subsidies to help and support businesses that run within the hilly areas, or are run by the backward classes.
The main objective is to support such impoverished sections of society or areas of the country who are not so stable in terms of finance.
So subsidies are offered for water, land, power, sales tax, octroi tax, procurement of raw materials, matters concerning industrial estates and other important areas.
In this way, the government facilitates regional development as well. Subsidy of 10-15 percent is offered on capital assets and they are also allowed to use scrap steel, cement etc for building structures.
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