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INDIAN STATE: UTTARAKHAND
Fiscal Incentives
Fiscal Incentives to new Industrial
Units and to existing units on their substantial expansion:
(I) New industrial units and existing industrial units
on their substantial expansion as defined, set up in
Growth Centres, Industrial Infrastructure Development
Centres (IIDCs),Industrial Estates,Export Processing
Zones, Theme Parks (Food Processing Parks, Software
Technology Parks, etc.) and other areas as notified
from time to time by the Central Government, are entitled
to:
(a) 100% (hundred percent) outright excise duty exemption
for a period of 10 years from the date of commencement
of commercial production.
(b) 100% income tax exemption for initial period of
five years and thereafter 30% for companies and 25%
for other than companies for a further period of five
years for the entire states of Uttaranchal and Himachal
Pradesh from the date of commencement of commercial
production.
(II) All New industries in the notified location would
be eligible for capital investment subsidy @15% of their
investment in plant & machinery. The existing units
will also be entitled to this subsidy on their substantial
expansion, as defined.
(III) Development of Industrial Infrastructure:
(i) The funding pattern under the Growth Centre Scheme
currently envisaging a Central assistance of Rs.10
Crores per centre is raised to Rs.15 crore per centre;
(ii) The financing pattern of Integrated Infrastructure
Development Centres (IIDC) between Government of India
and SIDBI will change from 2:3 to 4:1, and the GOI
funds would be in the nature of a grant, so as to
provide the required infrastructural support.
Other Incentives:
(i) Deen dayal Hathkargha
Protsahan Yojna and other incentives of Ministry of
Textiles: The funding pattern between Government
of India and both the States would be changed from 50:50
to 90:10 under this Scheme. Ministry of Textiles would
extend its package of incentives, as notified for North-Eastern
States, to the states of Uttaranchal and Himachal Pradesh
also.
(ii) Ministry of Food Processing Industries would include
Uttaranchal in difficult areas category. The state of
Himachal Pradesh is already included in the difficult
areas category.
(iii) Pradhan Mantri Rozgar
Yojana (PMRY) : Ministry of Agro & Rural
Industries would provide for states of Himachal Pradesh
and Uttaranchal relaxation under PMRY with respect to
Age (i.e. 18-40 years from 18-35 years) and Subsidy
(@ 15% of the project cost subject to a ceiling of Rs.15,000/-
per entrepreneur).
Nodal Agency:
The Nodal Agency for routing the subsidies/incentives
under various schemes under this Policy will be notified
seperately.
Government reserves the right to modify any part of
the policy in the interest of public.
The Ministry of Finance & Company Affairs (Department
of Revenue), Ministry of Agro & Rural Industries,
Ministry of Textiles, Ministry of Food Processing Industries,
Ministry of Small Scale Industries, etc. are requested
to amend Act/rules/notifications, etc. and issue necessary
instructions for giving effect to these decisions.
Policy
Framework
Industrial Policy 2003
The aim of the policy is to provide a comprehensive
framework to enable a facilitating, investor friendly
environment for ensuring rapid and sustainable industrial
development in Uttarakhand and, through this,generate
additional employment opportunities and to bring about
a significant increase in the State Domestic Product
and eventual widening of the resource base of the state.
The policy shall remain in force for a period of 5 years.
Full
text of the policy
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