The Union Cabinet has authorised an extra allocation of about Rs 1,100 crore for the Himachal Pradesh and Uttarakhand Industrial Development Scheme, 2017.

The additional capital was needed to cover the scheme's liabilities through 2028-29. The entire monetary outlay for this scheme was Rs 131.90 crore.

A decision in this regard was taken in the meeting of the Union Cabinet, chaired by the Prime Minister NarendraModi, they said.

The government provides different incentives under the scheme to companies for investment in these two states, they added. The incentives include access to credit and insurance.