New investment policy issued : Agriculture, IT, Tourism are focus sector
Bhopal: The State Government has chalked out several new policies with a view to inviting effective investments during Global Investors Summit proposed to be held at Indore from October 28 to 30 and has also amended some of these polices. The State Government has issued orders for these policies.
Industrial Promotion Policy
Amendments have been made in the Industrial Promotion Policy-2010. In the amended policy, agri business and food processing, textiles, automotive and auto components, tourism, pharmaceutical, bio-technology, IT, healthcare, skill development and logistics & warehousing have been placed under focus sector. As per the policy, special assistance will be provided for setting up industrial and high-tech parks in private sector. Assistance equivalent to 15 percent of development cost subject to a maximum of Rs. five crore will be given on establishment of minimum 10 units in minimum 100 acre area and on providing regular employment to minimum 250 persons. At present, a provision has been made to abolish the tax imposed by the local bodies.
Classification of districts for micro and small industries will be abolished and facility under ‘C’ category will be provided. In all the districts, loan subsidy rate has been fixed at 5 percent, period 7 years and maximum limit Rs. 20 lakh for micro and small industries. As per the policy, special packages will be given to the industrial groups with an investment of over Rs. 20 thousand crore (Group-1) and more than 50 thousand crore (Group-2). Other provisions have also been made under the policy.
New Information Technology Investment Policy
As per the policy, land will be allotted to information technology companies at 25 percent of the collector guideline rate for upto 99-year lease. Each company will have to provide jobs to 100 IT/ITES professionals, 50 percent of which will have to be provided for people of Madhya Pradesh. The State Government will reimburse 50 percent cost of imparting skill gap training to IT professionals of Madhya Pradesh upto a maximum limit of Rs. 10 thousand per personnel. Exemption will be given on entry tax for IT products used in software and hardware manufacturing units.
Health Service Investment Policy
Under the policy, industry status has been accorded to health services. Capital Investment Subsidy amounting to 25 per cent will be given on opening minimum 100-bed hospital, medical college, nursing & paramedical school and college in cities with less than 10 lakh population. Its upper limit will be Rs. three crore in cities upto 10 lakh population and Rs. five crore in cities with more population. Under the policy, multi super speciality hospitals with a minimum 100 beds and medical colleges having a capacity of minimum 750 beds will be considered as major projects and will be eligible for subsidy.
Other provisions have also been made to invite investments in the health services.
Food Processing Policy
Under the policy, micro, small and medium industries have been categorised as per provisions of Micro, Small and Medium Industries Development Act-2006. A unit set up with less than Rs. 25 lakh investment in plant and machinery will be a micro unit. A unit with investment of over Rs. 25 lakh but below Rs. five crore has been placed under small unit category and over Rs. five crore but upto Rs. 10 crore under medium category and unit set up with over Rs. 10 crore investment has been placed under mega project category.
Horticulture Hub Policy
Under the policy, one or more centralised facilities will be made available for production of high-quality plantation material, grading, sorting, packing etc. for products to be grown in clusters of horticulture hub. Generally, more than one cluster (village groups) will be linked with a hub. Through feasibility study of hub by experts, it will be ensured whether establishment of hub is beneficial for an area or not. The hubs will be run under PPP mode. Provision of funds has been made for establishment of four hubs in the state.
Warehousing & Logistics Policy
Objective of the policy is to create additional storage capacity of 20 lakh metric tonnes in two years through private sector investments. The present storage capacity is 91 lakh metric tonnes. Storage capacity of 60 lakh metric tonnes is proposed to be developed in the coming years.
The policy provides for reservation of 10 percent land in new proposed industrial areas. Warehouses will be constructed on minimum 50 acre land in ten districts. Land for warehouses will be allotted at the rates fixed for small industries. There will be a single-window system for sanctioning proposals. There will be business guarantee models for hiring already constructed godowns and state-of-the-art storage facilities like silo bags. Storage capacity will be limited upto 20 lakh metric tonnes on first come first serve basis. Subsidy of 15 percent upto a maximum upper limit of Rs. 2.25 crore will be given on capital investment worth Rs. one crore or more on warehousing construction. Loan subsidy of five percent subject to upper maximum limit of Rs. 1.70 crore will be given for seven years. Already constructed units will be recognised as new units if it is expanded with an investment of over Rs. one crore.
As per the policy, 15 lakh out of 20 lakh metric tonne proposed capacity will be built through godowns and five lakh metric tonnes through silo bags. It will involve total investment of Rs. 1231 crore and subsidy worth Rs. 173 crore.
State Tourism Policy
Tourism has been accorded industry status in the State Tourism Policy. Provision has been made for subsidy to heritage hotels. Accordingly, if a private building is converted into and run as a heritage hotel by the building owner or any other investor, then 25 percent subsidy or Rs. 1.50 crore, whichever is less, will be payable on capital investment expenditure. The subsidy will be given when an investor would have run the heritage hotel for one year after developing it as heritage hotel and would have been classified as a heritage hotel by the Hotel and Restaurants Approval and Classification Committee. Assessment of investment expenditure will be made by a committee comprising officers of the State Archaeology Department and State Tourism Development Corporation.
The policy also provides for subsidy to investors on construction of budget hotels at prominent religious places. If such a hotel is constructed on the departmental land bank, then 20 percent subsidy or Rs. 50 lakh, whichever is less, will be payable. Subsidy on land price will not be given in such cases.
A budget hotel will be eligible for subsidy/exemption only when 50 or more room are built in it and rent is not more than Rs. two thousand per day per room. Eligibility of subsidy/exemptions on construction of dormitory will be given only when minimum 100 beds are available in it and per bed rent is not more than Rs. 200.
Technical & Skill Development Policy
As per the policy, maximum five acre land will be given on 30-year lease free of cost for setting up ITI in unserviced development blocks. For establishment of high-end ITI, subsidy of 25 percent of the capital cost (equipment and building inclusive) and 20 percent on ordinary ITI will be given in three instalments as per conditions.
A maximum amount of Rs. 2.50 lakh will be given in two installments for purchase of equipment only. Reimbursement of tuition fees for 50 state government sponsored seats will be made for maximum 10 years as per conditions.
Reimbursement of 50 percent of training cost to instructors of ITI Skill Development Centres established under the scheme will be given as per conditions.
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