Gujarat govt plans 5-7% interest subsidy, priority in land allotment to start-ups
Updated: Aug 11, 2014 02:24:31pm
Gandhinagar, Aug 11 (KNN) The Gujarat Government is planning to give the young entrepreneurs 5 to 7 per cent interest subsidy and priority in the land allotment in the new estates to be developed by the Gujarat Industrial Development Corporation (GIDC) in several parts of the state.
State industries commissioner Kamal Dayani said, “For the first time, the state government has decided to give financial and other incentives to the first time entrepreneurs who are beginning their medium or small scale industry. We are preparing the draft for the new incentive scheme for MSME sector under which special focus will be given to the first time entrepreneurs,'' as quoted in a media report.
“Earlier, small new entrepreneurs were not able to get the plots as the GIDC minimum plot size was 2,000 sq mt to 10,000 sq mt. Now under the new policy small plots of 500 sq mt will also be given,” he added.
The state government has announced to give 50 per cent cost benefit for the MSME dedicated GIDC estates so the new entrepreneurs will get infrastructure ready plots at cheap cost. A special committee for the formation of the scheme will prepare a scheme which will be submitted to the state government for the approval shortly . The incentive policy for budding entrepreneurs and overall MSME sector are likely to be announced soon,'' he said.
Gujarat houses over 5.75 lakh MSME units employing about 36.56 lakh people. According to the State’s Socio-Economic Review 2013-14, Gujarat ranked first in India in terms of the number of projects commissioned. And the MSME segment in the State comprises mainly the agriculture processing, food products, textile and chemicals processing and engineering. (KNN Bureau)
State industries commissioner Kamal Dayani said, “For the first time, the state government has decided to give financial and other incentives to the first time entrepreneurs who are beginning their medium or small scale industry. We are preparing the draft for the new incentive scheme for MSME sector under which special focus will be given to the first time entrepreneurs,'' as quoted in a media report.
“Earlier, small new entrepreneurs were not able to get the plots as the GIDC minimum plot size was 2,000 sq mt to 10,000 sq mt. Now under the new policy small plots of 500 sq mt will also be given,” he added.
The state government has announced to give 50 per cent cost benefit for the MSME dedicated GIDC estates so the new entrepreneurs will get infrastructure ready plots at cheap cost. A special committee for the formation of the scheme will prepare a scheme which will be submitted to the state government for the approval shortly . The incentive policy for budding entrepreneurs and overall MSME sector are likely to be announced soon,'' he said.
Gujarat houses over 5.75 lakh MSME units employing about 36.56 lakh people. According to the State’s Socio-Economic Review 2013-14, Gujarat ranked first in India in terms of the number of projects commissioned. And the MSME segment in the State comprises mainly the agriculture processing, food products, textile and chemicals processing and engineering. (KNN Bureau)
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