UP to provide upto 50% subsidy for setting up solar-powered food processing units

Lucknow, Feb 7 (KNN) The Uttar Pradesh government has announced upto 50 per cent subsidy to interested investors for setting up solar-powered food processing units, according to a government statement.

According to a statement, the Yogi Adityanath government has decided to give a 50 per cent subsidy to investors for setting up solar power plants of up to 75 KVA. The government has also decided to give a 90 per cent subsidy to food processing units owned and operated by women.

As per reports, the state government will also provide a transport subsidy of 25 per cent of the actual transport cost of exports of foodstuff to the entrepreneurs to make the food processing industry more competitive in the state.

The transportation cost will cover the shipping of the food product from the place of manufacturing/production in the state to the port of the importing country. Besides, a 35 per cent capital subsidy will be given to entrepreneurs on their expenditure on plant, machinery and technical civil works for the establishment of food processing units in the state with a maximum limit of Rs 5 crores, the statement said.

It will also give a capital subsidy of 35 per cent on the expenditure related to plant, machinery and technical civil work for the expansion of the units with a maximum limit of Rs 1 crore.

Uttar Pradesh government has brought in the UP Food Processing Industry Policy-23, providing many concessions and subsidies to the entrepreneurs in different segments in order to promote the products.

The new policy exempts the investors in the food sector from paying stamp duty on setting up of a unit, Mandi Fee and Development Fee, while reducing the loss incurred by investors and using startups in production.

The Yogi government has also announced a 75 per cent exemption in External Development Fees for entrepreneurs.  (KNN Bureau)