Correct Option
The Union Budget 2000 announced a 10-year tax holiday for new industrial units established in the North-Eastern states. This measure was intended to promote industrialisation and attract investment in the region. It formed a part of the North East Industrial Policy (NEIP), 1997, which received further fiscal reinforcements in 2000. Subsequently, the policy framework evolved, with the North East Industrial and Investment Promotion Policy (NEIIPP), 2007, extending certain concessions before its withdrawal in 2017. Currently, the North East Industrial Development Scheme (NEIDS), 2017, is in force, focusing on targeted support such as capital investment subsidies, transport subsidies, and employment incentives, marking a shift from blanket tax holidays to more specific, outcome-oriented assistance.
Incorrect Options
Options (a) 5 years, (b) 7 years, and (c) 9 years are incorrect. The tax holiday announced in the Union Budget 2000 for promoting industrialisation in the North-Eastern Region was specifically for a duration of 10 years, not these shorter periods.