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| Govt. encourages private entrepreneurship: Slathia | | | EARLY TIMES REPORT
JAMMU, Mar 18: Minister for Industries & Commerce, S.S. Slathia has said that Government is encouraging private entrepreneurship by providing incentives and financial assistance to the unit holders besides technical knowhow under State and Central schemes launched for industrial promotion in the State.
This was stated by Minister while replying to the supplementaries raised by several legislators on the main question by Abdul Majid Wani in the Legislative Assembly here today.
Replying to the main question regarding establishment of industrial estates in erstwhile district Doda, the Minister said two industrial estates at Dandi Bhaderwah and Sangrambhata Kishtwar are functional in erstwhile district. He said 62 kanals of land identified for setting up of Beoli Doda Industrial estate after settlement of land acquisition necessary work would be taken up, adding new areas are being identified to set up mini industrial estates in backward areas of the district subject to availability of appropriate land.
The Minister informed the House about the details of State, Central incentives available for prospective industrialists, which include single window clearance system, 100% subsidy on purchase of new diesel generating sets upto a maximum of Rs 25 lakh per unit, 30% subsidy on pollution control equipment upto a maximum of Rs 20 lakh per unit, 5% refund of interest paid on term loan for technocrats, special incentive for brand promotion and modernization, toll tax exemption on import of raw material and export of finished products, VAR reimbursement on local purchase of raw material to SSI units, stamp duty exemption, CST exemption on sale of finished goods outside the State, land and power at confessional rates, 75% subsidy on research and development under State Government industrial policy.
Slathia said under Centre package, the incentives include 15% subsidy on capital investment on plant and machinery for MSME units established after January 2011, this has been increased to 30% subject to maximum of Rs 3 crore per unit, 3% interest subsidy on working capital, 100% subsidy on insurance cover for industrial units, 90% transport subsidy, refund of central excise duty paid on value and income tax holiday.
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