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of <h1>Government Launches Industrial Park Scheme Under Section 80I-A for Tax Benefits, Effective 1997-2002, with Approval Criteria</h1> The Central Government has established the Industrial Park/Industrial Model Town Scheme under section 80I-A of the Income-tax Act, 1961, effective from April 1, 1997, to March 31, 2002. The scheme aims to develop industrial infrastructure through Industrial Model Towns, industrial parks, or growth centers. Applications for setting up such projects must be submitted to the Ministry of Industry, with automatic approval granted if specific criteria are met, including minimum area and investment requirements. Non-automatic approvals require the Empowered Committee's consent. The scheme mandates operational continuity for tax benefits and allows for approval withdrawal if conditions are unmet.
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