Read the following passage carefully:
In October 2025, the Ministry of Skill Development and Entrepreneurship launched the National Semiconductor Skill Mission (NSSM). Under the scheme guidelines, private polytechnic institutes established prior to 2020 are eligible for a 75% capital grant for cleanroom laboratory equipment, provided they maintain an annual intake of at least 150 students in electronics streams. However, institutes located in designated coastal economic zones receive only a 50% capital grant, regardless of their year of establishment. Furthermore, state-run technical universities are granted 100% equipment funding irrespective of student intake, provided their curriculum is accredited by the National Board of Accreditation (NBA).
Based strictly on the passage above, evaluate the following statement:
Statement: A private polytechnic institute established in 2018 and located in a coastal economic zone with an annual electronics intake of 200 students is eligible for a 75% capital grant under the NSSM.
Is the statement True or False?
Answer: Answer