Industrial sops extended for 5 years in J&K; MSMEs get better deal
Updated: Jun 15, 2013 01:42:46pm
Srinagar, Jun 15 (KNN) Special fiscal incentives for industries in Jammu and Kashmir will be available for five more years until June 2017, the government said yesterday.
The earlier 10 year package of industrial incentives for the state was valid till today.
“The highlight of the capital investment subsidy scheme is that the MSMEs would be eligible for this incentive at the rate of 30 per cent of the investment in plant and machinery subject to a sealing of Rs three crore for the manufacturing sector and Rs 1.05 crore in services to all new industrial units. For others the capital investment subsidy is available at 15 per cent of investment in plant and machinery with the sealing of Rs 30 lakhs,” said an official statement.
It also provides for 3 per cent interest subsidy on the average of daily working capital loan to all new units for a period of five years from the date of commencement of commercial production.
The Central Comprehensive Insurance Subsidy Scheme also provides for 100 per cent reimbursement of premium to all new and existing units on their substantial expansion for a period of five years from the date of commencement of commercial production.
The benefits can be availed by industries set up in notified industrial parks and estates. The scheme has been extended to cover flour mills and rice mills, spice grinding, pasteurization and processing of milk and other dairy products, mushroom culture, compost making, dairy farming packaging industry, bottling of mineral water, stationery items and wood based industry.
In the last package, subsidy of Rs 158.45 crore (upto 31.3.2013) was released during a period of 10 years.
As many as 9,305 new units were set-up with a total investment of Rs 3183.48 crores and employment generated was 1,11,397 among persons in the state of Jammu and Kashmir. (KNN)
The earlier 10 year package of industrial incentives for the state was valid till today.
“The highlight of the capital investment subsidy scheme is that the MSMEs would be eligible for this incentive at the rate of 30 per cent of the investment in plant and machinery subject to a sealing of Rs three crore for the manufacturing sector and Rs 1.05 crore in services to all new industrial units. For others the capital investment subsidy is available at 15 per cent of investment in plant and machinery with the sealing of Rs 30 lakhs,” said an official statement.
It also provides for 3 per cent interest subsidy on the average of daily working capital loan to all new units for a period of five years from the date of commencement of commercial production.
The Central Comprehensive Insurance Subsidy Scheme also provides for 100 per cent reimbursement of premium to all new and existing units on their substantial expansion for a period of five years from the date of commencement of commercial production.
The benefits can be availed by industries set up in notified industrial parks and estates. The scheme has been extended to cover flour mills and rice mills, spice grinding, pasteurization and processing of milk and other dairy products, mushroom culture, compost making, dairy farming packaging industry, bottling of mineral water, stationery items and wood based industry.
In the last package, subsidy of Rs 158.45 crore (upto 31.3.2013) was released during a period of 10 years.
As many as 9,305 new units were set-up with a total investment of Rs 3183.48 crores and employment generated was 1,11,397 among persons in the state of Jammu and Kashmir. (KNN)
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