Gujarat govt announces five incentive schemes for manufacturing sector(Video)February 25, 2013
By our correspondent, Gandhinagar, 25 February 2013
The Gujarat government today declared five incentive schemes for manufacturing sector in an attempt to raise this sector’s GSDP contribution from 27.6% to 32%.
Five incentive schemes:
(1) Interest subsidy scheme
(2) Assistance for Core infrastructure
(3) Assistance for Common facility(a scheme for assistance for R&D Research development through joint facility)
(4) Assistance for Common Effluent Treatment Plant(CETP)
(5) Assistance for Center of excellence.
Automobile and auto components
Solar and wind equipments
Specialty and fine chemicals
Electronics system design and manufacturing
Food and Agro business
The announcement was made under assembly rule no. 44.
Interest subsidy scheme:
(A) 7% graded interest subsidy for five years for medium scale and small medium manufacturing (MSME) units. 2% subsidy for big industrial units in actual investment upto Rs 100 crore.
(b) Rs 50 lakh interest subsidy for big industrial units and per year maximum Rs 25 lakh interest subsidy for medium and small medium manufacturing(MSME) units.
Core Infrastructure Assistance scheme:
Industrial park to be given either 50% incentive of total expenditure over core infrastructure development or upto Rs 20 crore limit whatever less.
Assistance for Common facility(R&D): One time assistance of 80% or upto Rs 10 crore whatever less to State level approval committee approved self sustained project for testing equipment and R &D equipment in four installments.
Common Effluent Treatment Plant: 75% assistance of total expenditure to start such plant with matching contribution of the Government of India, or if GoI assistance is not available, then 40% assistance.
Assistance scheme for Center of Excellence: State government institutions functioning under public private partnership model, industrial units and professional institutes will be suitable for assistance. 70% assistance including recurring expenditure would be availed. For national level center of excellence the amount of assistance will be upto Rs 20 crore while for international level center of excellence the limit will be Rs 30 crore. Such center of excellence must encourage for innovation, entrepreneurship and six sub sectors.
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