The government today issued norms for setting up of National Investment and Manufacturing Zones (NIMZs) to give boost to Manufacturing Sector in the country. These zones will have number of benefits which also includes exemption from capital gains tax. The guidelines issued by Department of Industrial Policy and Promotion said that capital gains tax on sale of plant and machinery of a unit located in a NIMZ will be exempted. The developers of NIMZs will be allowed to raise funds through external commercial borrowing (ECBs) for developing the internal infrastructure of the NIMZs. Soft loans from multilateral institutions will be explored for funding infrastructure development in NIMZ Besides, assistance will also be provided for negotiating non-sovereign multilateral loans by providing back-to-back support, if necessary.The government has proposed to set up NIMZs under the National Manufacturing Policy. The policy aims at enhancing the share of manufacturing in GDP to 25 per cent within a decade and creating 100 million jobs.AIR correspondent reports that NIMZs are conceptualised as integrated industrial townships of at least 50 sq km (5,000 hectares) with state-of- the-art infrastructure. At least 30 per cent of the total land area would be devoted to manufacturing units.