Industrial policy tweaked in Himachal, more incentives provided

Tribune News Service

Shimla, April 29

The state government today made more changes in the Industrial Policy 2019 to woo investors.

An official spokesperson said here that the government had notified the Himachal Pradesh Industrial Investment Policy on August 16, 2019 to provide incentives and concessions for the promotion of investment. “However, now based on the demand raised by industrialists and the feedback from the field offices, the state government on Friday made some major changes in the industrial investment policy,” he said.

Subsidy, aid announced to woo investors

• 50% subsidy towards cost of detailed project report
• 3% interest subvention
• 50% assistance to be provided for transportation of plant and machinery
• 3.5% transport subsidy
• 50% assistance for quality certification
• 25% assistance for setting up of effluent treatment plants
• 50% to 90% net SGST reimbursement for MSMEs, and large and anchor enterprises
• Sunset clause for incentives extended from Dec 31, 2022, to Dec 31, 2025

He said, “Major incentives include 50 per cent subsidy towards the cost of a detailed project report, 3 per cent interest subvention, 50 per cent assistance for transportation of plant and machinery, 3.5 per cent transport subsidy, 50 per cent assistance for quality certification, 25 per cent assistance for setting up of effluent treatment plants and 50 per cent to 90 per cent net SGST reimbursement for MSMEs, and large and anchor enterprises”.

He added, “Enterprises with a minimum fixed capital investment of Rs 200 crore and employing minimum 200 bona fide Himachalis will fall under the category A. Enterprises with a minimum fixed capital investment of Rs 150 crore and employing minimum 150 bona fide Himachalis will fall under the category B. Enterprises with minimum fixed capital investment of Rs 100 crore and employing minimum 100 bona fide Himachalis would fall under the category C”.

The spokesperson said, “The sunset clause for providing incentives under the policy has been extended from December 31, 2022, up to December 31, 2025. The eligible enterprises for SGST reimbursement, who could not claim it due to pending assessment of the net SGST by the Excise and Taxation Department, can now apply for it up to December 31, 2022”.

He said, “Five per cent reservation in land/ plots/ sheds shall be done where these are to be used for the purpose of setting up an enterprise by person(s) with disability either individually or collectively in new notified industrial areas. Existing as well as new enterprises providing 5 per cent employment to persons with benchmark disability in the total work force will be eligible for an additional incentive of Rs 1,000 per month per such employee for three years”.

He said that new development blocks of Shri Naina Devi Ji, Bali Chowki, Dhanotu, Nihri, Churag, Totu, Kupvi, Kothkhai and Tilordhar had been added to the category B areas of the state.

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