Special industrial investment incentive package for SC, ST entrepreneurs
Raipur, 9 November 2020. With the formation of new government in Chhattisgarh, revolutionary changes have been brought in the industry policy here. These changes will be very important in moving the state’s economy towards an inclusive goal. Apart from attracting industries, the interests of the state have also been taken care of. Another main objective of these changes is to give a mature shape to the state’s economy.
The new government has notified 21 important amendments under the leadership of Chief Minister Mr. Bhupesh Baghel in the new industrial policy of the state 2019-24. In this, the small scale industries will have the option of filling the capital subsidy in cash or GST. Till now it was eligible for cash grant for micro industries. The government, accepting the demands of various industrial organizations, gave small and medium scale industries cash or GS. It is decided to grant in T. A special industrial investment incentive package has been announced for scheduled castes and scheduled tribe category entrepreneurs. Under this, more benefit will be given from previous industrial policies. Like new industries, the government will give incentives for expansion of old industries. Industries now used to have money in transportation to export from the state to other countries. In that, the government will give a grant in transportation cost Under this, the government will provide a grant of 20 lakh rupees per year.
The MSME has been defined separately in the new industrial policy by the state government and the definition of large service enterprise has also been released. As per the demand of the investors, provision was made for small and medium scale industries by not limiting the permanent capital investment grant to micro industries. The count period of permanent capital investment has also been extended by expanding existing industries. Special incentive package has been announced under the Be Spoke Policy for Mega, Ultramega industries to promote the steel sector, the backbone of the state’s industries. These will be those units which have signed MoUs with the state government. Will execute
Chhattisgarh state start-up package has been included in the policy to incorporate new ideology in industries and create new jobs. These start-ups will be provided more facilities from other industries with less formalities. In order to promote inclusive growth, special industrial investment incentive package has been released for the entrepreneurs belonging to the Scheduled Castes and Tribes. Under this, Scheduled Caste and Tribe class entrepreneurs will get more benefits from the earlier facilities.
Through the core sector, large, mega, ultramaga industries will now be given full exemption in electricity duty on setting up industries in any category. Now it is no longer necessary to be a 100 percent exporter of the unit for transport grant. Eligible micro, small and medium scale industries to be set up by entrepreneurs of general category will be provided with land premium on the allotment of land in the industrial areas of the Department of Industries, CSIDC. The much awaited land transfer fee has been reduced by entrepreneurs. Also, the maximum limit for starting production has also been increased.
