Assam Cabinet approves State Industrial Policy; has grant of 30% subsidy for MSMEs

Dispur, July 23 (KNN) The Assam Cabinet has approved the Assam State Industrial Policy which provides interest subsidy on working capital loans and power subsidy amongst other benefits.

The Cabinet, during a meeting chaired by Assam Chief Minister Sarbananda Sonowal, decided on the new industrial policy which will provide power subsidy at Rs two per unit for a period of five years subject to a maximum of Rs 50 lakh per annum, 50 per cent generating subsidy up to Rs 20 lakh, exemption of stamp duty of up to 100 per cent up to Rs 25 lakh.

The policy also included 75 per cent subsidy on technology transfer subject to a ceiling of Rs 10 lakh and financial assistance to MSME at 30 per cent subsidy subject to a ceiling of Rs 5 lakh for listed companies.

Among other important decisions, the cabinet also decided to set up an international trade centre in Golaghat district of Assam for regulating the sale of Agar wood.

Apart from this, the cabinet also decided to waive the cess on green leaves for three years to the big tea estates to strengthen the tea industry of the state.