New Delhi, March 7 -- The Union Cabinet chaired by Prime Minister Narendra Modi on Thursday approved the proposal of the Department for Promotion of Industry and Internal Trade for Uttar Poorva Transformative Industrialization Scheme, 2024 (UNNATI - 2024) for a period of 10 years from the date of notification along with eight years for committed liabilities at a total cost of Rs 10,037 crore.

Commerce and Industry Minister Piyush Goyal told the media after a meeting of the union cabinet that the scheme is proposed to be divided into two parts.

Part, A caters to the incentives to the eligible units (Rs. 9737 crore), and Part B, is for implementation and institutional arrangements for the scheme. (Rs. 300 crore).

The proposed scheme envi...