Gujarat likely to announce new policy for startups soon
Updated: Nov 19, 2014 12:52:34pm
Ahmedabad, Nov 19 (KNN) To support and incentivize business startups and particularly to motivate first time entrepreneurs, the Government of Gujarat is planning to announce a new policy for startups, according to a Times of India report.
The state finance Minister, Saurabh Patel who is also incharge of the industry department had announced this at an event here.
“The new policy will provide financial and technical help to the first time entrepreneurs. The policy will mostly be announced prior to Vibrant Gujarat Global Investor Summit, scheduled in January 2015. First time entrepreneurs who are starting their medium or small scale industry will get various incentives,” the media report said quoting Patel.
He said that young entrepreneurs will be given 5 to 7 per cent interest subsidy and priority in the land allotment in the new estates to be developed by the GIDC (Gujarat Industrial Development Corporation) in several parts of the state.
Earlier small new entrepreneurs were not able to get plots as the GIDC minimum plot size was 2000 sqm to 10,000 sqm. However, now under the new policy small plots of 500 sqm will also be given, the media report said.
The state government has announced that it would give 50 per cent cost benefit for the MSME dedicated GIDC estates so the new entrepreneurs will get infrastructure ready plots at cheap cost. (KNN Bureau)
The state finance Minister, Saurabh Patel who is also incharge of the industry department had announced this at an event here.
“The new policy will provide financial and technical help to the first time entrepreneurs. The policy will mostly be announced prior to Vibrant Gujarat Global Investor Summit, scheduled in January 2015. First time entrepreneurs who are starting their medium or small scale industry will get various incentives,” the media report said quoting Patel.
He said that young entrepreneurs will be given 5 to 7 per cent interest subsidy and priority in the land allotment in the new estates to be developed by the GIDC (Gujarat Industrial Development Corporation) in several parts of the state.
Earlier small new entrepreneurs were not able to get plots as the GIDC minimum plot size was 2000 sqm to 10,000 sqm. However, now under the new policy small plots of 500 sqm will also be given, the media report said.
The state government has announced that it would give 50 per cent cost benefit for the MSME dedicated GIDC estates so the new entrepreneurs will get infrastructure ready plots at cheap cost. (KNN Bureau)
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