The industrial policy aims to encourage the manufacturing sector to upgrade itself to using cutting edge technology and innovative means to significantly add value, creating products that command a niche position in the global markets. Building backward and forward linkages in the focus sectors wil help in creating a strong multiplier effect in the economy, which would boost consumption and growth. Plastic industry is identified as specific sector focus to promote manufacturing industries. Investment in this sector wil create vast opportunities for ancillary and downstream industries in the smal, medium & large sector in the State.
Policy Operative Period:- 2015 to 2019
Interest Subsidy of 7% per annum out of interest payable on the Term Joan, availed from Bank or Financial institutions as per RBI guidelines. This will be applicable during the operative period of the scheme for fixed capital investment with the maximum amount of Rs. 1 Crore per annum for period of 5 years.
- The eligible unit shall pay the Net VAT/ Net SGST payable
- The eligible unit will be allowed reimbursement to the extent of 80% of the Net VAT/ Net SGST paid
- Only 75% of eligible fixed capital investment of eligible enterprise will be considered for reimbursement
- The reimbursement will be available for a period of 7 years from the date of production or the completion of limit of 75%, whichever is earlier.
- The eligible enterprise shall be entitled to avail the annual VAT incentives to the extent of 1/7th of monetary ceiling in particular year.