Consider the following statements about the Trade Infrastructure for Export Scheme (TIES):
- The project will be monitored by an Empowered Committee chaired by the Commerce Secretary
- The Central Government will bear the 100 % funding for the infrastructure projects under the scheme
Which of the above statements is/are correct?
The Trade Infrastructure for Export Scheme (TIES) aims at setting up and up- gradation of infrastructure projects with overwhelming export linkages like Border Haats, Land customs stations, quality testing and certification labs, dry ports, trade promotion centres, export warehousing and packaging, SEZs and ports/airports and cargo terminuses. The Central Government funding will be in the form of grant-in-aid, which will not be more than the equity being put in by the implementing agency or 50% of the total equity in the project, or 80% of the equity in case of projects in the north-eastern states.
This question is a part of GKToday's Integrated IAS General Studies Module