The much-hyped North East Industrial and Investment Promotion Policy (NEIIPP)-2007, which promised to ease the burden off the shoulders of the entrepreneurs by hiking the central capital investment subsidy from 15 per cent to 30 per cent, and that too without any limit, has instead left them in the lurch. As even after more than a year has passed since the NEIIPP-2007 was announced, the State Government has failed to formulate the operational guidelines for it. Well-placed sources in the department, while talking to The Assam Tribune, said that as the State-level committee is yet to be formed, the process of getting 30 per cent subsidy over the respective investment of the entrepreneurs has become a distant dream. "Already, a year has passed and the more the process is delayed, the greater amount of loss would have to be borne by the entrepreneurs, thanks to the devaluation of the money and other related factors,' the sources reiterated. As per the new policy, claims up to Rs 1.5 crore are supposed to be scrutinized and approved by the State-level committee chaired by the Secretary, Industries Department. Moreover, claims above Rs 1.5 crore up to Rs 30 crore will be approved by the empowered committee, chaired by Secretary, Department of Industrial Policy and Promotion (DIPP), while the claims above Rs 30 crore will be placed by the DIPP before the Union cabinet for approval. However, irrespective of the size of the investment, it is the State-level committee, which would have to forward the proposals. "As the State level committee is yet to be formed, the industrialists of the State are being deprived from the benefits of the NEIIPP. The subsidy is being offered by the Government of India and one fails to understand why the State Government is approaching the matter in a complacent manner,' rued a city-based industrialist. "This has really hurt the spirit of the entrepreneurs in a big way. At a time when so much is being said about roping in investment in the State, such a step-motherly treatment was never expected,' the sources pointed out. The sources further intimated that the format applications for the new guidelines are also yet to be done. However, following the pressure exerted by a section of entrepreneur, the registration is now being allowed in the old format. Meanwhile, when contacted, a senior official of the Industry and Commerce Department said that the process is still on and the committee would be formed within the next few days.