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Mumbai: With investment in the industrial sector lagging in Vidarbha, Marathwada, North Maharashtra, and Konkan, the state govt announced an extension of industrial subsidy for up to three more years. A decision to extend the industrial subsidy of up to Rs 100 crore was endorsed by the cabinet sub-committee of the Eknath Shinde govt in Oct this year.
In a govt resolution issued on Thursday, the state industry dept said, “For large/mega projects in Vidarbha and Marathwada regions, including Dhule and Nandurbar districts in North Maharashtra and Ratnagiri and Sindhudurg districts in Konkan, which received industrial incentive subsidies of less than Rs 100 crore, the period for granting industrial incentive subsidies is being extended until 80% of the planned investment is achieved or for an additional 3 years, whichever is less.”
The GR states that considering the impact of the pandemic on industrial production in these regions, industries with less than Rs 100 crore investment requested an extension of the subsidy period. Since the objective is to promote industrial development outside the Mumbai, Pune, and Nashik triangle and achieve regional balance in the state’s industrial growth, the cabinet sub-committee decided to extend the period for granting subsidies to large/mega projects. The sub-committee recommended the extension be granted until 50% of the proposed investment is completed or up to a maximum of 5 years, whichever is less. The subsidy period, which began on April 1, 2015, would remain valid for projects that were already underway.
Under its mega project policy, an industrial unit with a capital investment of Rs 100 crore and providing employment to 300 persons in these regions was classified as a large-scale industry, and a unit with a capital investment of Rs 350 crore providing employment to 500 people qualified as a mega project.
In another GR, to kickstart the health food cluster in Satara under the Centre’s micro and small enterprises-cluster development programme, the industry department directed the release of the first instalment of Rs 1 crore to Kamal Deep Health Food Foundation.
Mumbai: With investment in the industrial sector lagging in Vidarbha, Marathwada, North Maharashtra, and Konkan, the state govt announced an extension of industrial subsidy for up to three more years. A decision to extend the industrial subsidy of up to Rs 100 crore was endorsed by the cabinet sub-committee of the Eknath Shinde govt in Oct this year.
In a govt resolution issued on Thursday, the state industry dept said, “For large/mega projects in Vidarbha and Marathwada regions, including Dhule and Nandurbar districts in North Maharashtra and Ratnagiri and Sindhudurg districts in Konkan, which received industrial incentive subsidies of less than Rs 100 crore, the period for granting industrial incentive subsidies is being extended until 80% of the planned investment is achieved or for an additional 3 years, whichever is less.”
The GR states that considering the impact of the pandemic on industrial production in these regions, industries with less than Rs 100 crore investment requested an extension of the subsidy period. Since the objective is to promote industrial development outside the Mumbai, Pune, and Nashik triangle and achieve regional balance in the state’s industrial growth, the cabinet sub-committee decided to extend the period for granting subsidies to large/mega projects. The sub-committee recommended the extension be granted until 50% of the proposed investment is completed or up to a maximum of 5 years, whichever is less. The subsidy period, which began on April 1, 2015, would remain valid for projects that were already underway.
Under its mega project policy, an industrial unit with a capital investment of Rs 100 crore and providing employment to 300 persons in these regions was classified as a large-scale industry, and a unit with a capital investment of Rs 350 crore providing employment to 500 people qualified as a mega project.
In another GR, to kickstart the health food cluster in Satara under the Centre’s micro and small enterprises-cluster development programme, the industry department directed the release of the first instalment of Rs 1 crore to Kamal Deep Health Food Foundation.
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