R'than offers tax sops to agro industries

Various proposals including incentives to industries in the agro-processing sector were approved by the state cabinet on Wednesday.

To promote agro-processing industry and attract investment in agri-business, the cabinet in its meeting here decided to provide tax exemptions to established projects and projects to be established in the sector.

The government will provide 100 per cent exemption on electricity duty for seven years, on stamp duty for purchase or lease of land, on land conversion charges and market fee to the projects.

Investment cap

Earlier, industries making investment of Rs 25 crore and above only could avail the exemption. Now, the exemption has been given to the industries earlier established and to be established without fixing any investment cap.

The move will help small and medium enterprises to set up projects under Policy for Promotion of Agro-Processing and Agri-Businesses, 2010.

The enterprises which are scheduled to come early will be given an additional directemployment based incentive of Rs 7,000 per person per year of completed service for each newly appointed person.

In the case of women employees and those belonging to SC/ST the incentive will be Rs 9,000 per person per year.

For the additional direct employment based incentive the earlier fixed investment cap of Rs 25 crore and above has now been amended and  fixed as Rs 10 crore for urban areas and Rs 5 crore for rural areas.

The incentives will be given for three years after commencement of commercial production.

Incentive

The projects which are given approval before March 31, 2014 under Policy for Promotion of Agro-Processing and Agri-Businesses, 2010 will get the incentive benefit.
The cabinet approved allotment of unoccupied government land to eligible co-operative societies free of cost by amending the Rajasthan Land Revenue (Allotment and Conversion of Lands for the Construction of Seed Godowns) Rules, 1965. It will help strengthen the co-operative movement.

The government also decided to approve proposal regarding customised package to Lafarge India Pvt. Ltd. for setting up a cement plant in Chittorgarh.
The Lafarge India has invested around Rs 1,000 crore in the project.
Proposal from revenue department regarding allotment of land on concessional rates to various departments and enterprises of Central government was also approved.

Assembly elections 2019 | Get the latest news, views and analysis on elections in Haryana and Maharashtra on DeccanHerald.com


For election-related news in Maharashtra, click here

For election-related news in Haryana, click here

DH Newsletter Privacy Policy Get top news in your inbox daily
GET IT
Comments (+)