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- Entrepreneurs Setting Up Industries In The State Will Get 25 Percent Subsidy On Capital Investment
Ranchi2 hours ago
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- The maximum amount of subsidy will be up to Rs 25 crore
- SC-ST and women entrepreneurs will get 5% additional grant
- Cabinet seal on Jharkhand Industrial and Investment Promotion Policy
The state cabinet on Tuesday approved the Jharkhand Industrial and Investment Promotion Policy-2021. It will be effective from April 1, 2021 for the next five years. Under this, now up to 25% subsidy will be given on capital investment for setting up industries in Jharkhand. However, its maximum amount will be 25 crores. SC-ST and women entrepreneurs will get 5% additional grant.
The government claims that this will lead to an investment of about one lakh crore rupees in the state. About 5 lakh people will also get employment. Cabinet Secretary Vandana Dadel told that this policy is to encourage maximum capital investment and generate employment by utilizing the resources available in the state. Let us inform that Bhaskar had disclosed on 29th June that entrepreneurs would get subsidy up to Rs 25 crore in the new industrial policy.
These are the high priority areas of the government
- Textile & Apparel
- Automobiles, Auto Components and Electricals Vehicles
- Agro Food Processing & Meat Processing Industries
- pharmaceutical industry
- Electronics System Design & Manufacturing
Understand from these points what is special in the new industrial policy
1. Five percent additional grant on installation of two units
On setting up the first two units in any district of the state, the state government will give five percent additional capital grant to the investors. The state government will pay 30 percent of the investment on plant and machinery. Within two years of the implementation of the new industrial policy, 10 percent additional grant will be given to those setting up the industry.
2. 100% incentive amount of State GST for small scale industries
In the small scale industries, 100% incentive amount for payment on State GST will be given for five years. The state government will pay an additional five percent grant amount to women, dalit and tribal industrialists in small scale industries, large industries and mega project category industries. These category of industrialists will get a total grant of 30%.
3. Medical and educational institutions Rs.25 crore. Grant
Medical colleges, super specialty hospitals and technical educational institutions will now get a grant of Rs 25 crore instead of Rs 20. Grant will also be given for setting up distillery plant. One-fourth of the total capital investment or a maximum of Rs 25 crore will be given as subsidy in five years.
Plan to make 4 states a textile and higher education hub
Through this new industrial policy, preparations are being made to make the state a hub of textile and higher education. There is a dearth of private medical and engineering colleges in the state. The government believes that investors will work towards opening a private technical university after being influenced by this policy.