What are the facilities given by government for industrial development in Rajasthan
Answers
Answer:
Concessions and Facilities to Industries RIICO
The Industrial Catalyst
Rajasthan State Industrial Development & Investment Corporation Limited
Rajasthan
Land, water, power, housing, educational institutions, hospitals, media-centres, shopping plazas, recreation, tourism, nature/wildlife parks and a congenial climate for a quantum growth. In fact Rajasthan has now become an ideal destination for industrialisation.
More than 16,500 industries are in production within the Industrial Areas developed by RIICO in Rajasthan.
They include some prominent projects set up with active financial and technical backing of the multi-national companies like:
Samcor Glass Ltd. (Corning, US and Samsung, Korea)
Ericsson Telecom (LM Ericsson, Sweden)
Indian Shaving Products (Gillette, UK)
Bausch & Lomb (Bausch & Lomb, USA)
Climate Control Ltd. (Ford Motor Co., USA)
Sicpa Ltd. (Sicpa s.a., Switzerland)
MICO Bosch
Cooper Automobile Products (I) Ltd., (Champion, USA)
Total infrastructure support is provided to industrial projects in Rajasthan by way of developing Industrial Areas and Townships, a programme in which Departments of the Government of Rajasthan are participating. RIICO has accorded priority to development of Social and Industrial Infrastructure in and around the industrial areas, and has developed 279 Industrial Areas so far.
Apart from infrastructure development RIICO also provides financial assistance – term loans, working capital loans and direct equity support to industry in Rajasthan. Other agencies involved in industrialisation in the State are-Rajasthan Financial Corporation which provides term loan assistance to tiny, small and medium sector projects, and Bureau of Investment Promotion which provides escort services to the entrepreneurs and is the State’s single window agency in addition to the Directorate of Industries.
INDUSTRIAL POLICY ‘98
The fourth Industrial policy of the State has made Rajasthan the most favoured destination for industries. The policy has envisaged an attractive package of incentives to industries, which inter alia included sales tax exemption/ deferment, interest subsidy, octroi exemption, DG subsidy, subsidy for agro based units, incentive for quality certification, reduction in stamp duty, special scheme including interest subsidy and exemption from entertainment tax for amusement parks/cinemas/hotels, simplification of land conversion and exemption of land and building tax.
However, the sales tax exemption/deferment scheme, 1998 has been discontinued from 1st May, 2000 under uniform sales tax scheme in all States, introduced by Government of India.
Special Package for Auto Units
The Auto units having investment of at least Rs.10 crores and which provide regular employment to at least 200 persons are:
Granted public utility status under Section 2(n) of the Industrial Disputes Act.
Land at nominal rate can be considered by RIICO for grassroot car project.
A customised package will also be considered for premier units with a minimum investment of Rs.150 crores and regular employment of 500 persons.
INTEREST SUBSIDY
The Capital Investment Subsidy Scheme has been replaced by an Interest Subsidy Scheme. Under this scheme an Interest Subsidy would be provided @ 2 percent on the documented rate of interest till last date of repayment as per original repayment schedule fixed by the financial institution. This Interest Subsidy will be available to industrial units having investment in plant & machineries up to Rs.60 lakhs. The scheme will remain operative till March 2003. The industrial units regular in making repayment to the financial institutions/banks will be eligible for obtaining this incentive.
INTEREST SUBSIDY UNDER THFS SCHEME OF GOI
Under technology upgradation fund scheme of GOI for textile, jute, cotton ginning & pressing industries, there is reimbursement of five percentage points on the interest charged by lending agency on a project of technology upgradation in conformity with the technology bench marking and other norms under the scheme. This scheme is operational w.e.f. 1.04.1999 for 5 years.
CAPITAL INVESTMENT SUBSIDY FOR COLD STORAGES
Capital Investment Subsidy for Construction/Expansion/Modernisation of Cold Storages and Storages for horticulture produce is given by National Horticulture Board to the extent of 25% of the project cost subject to a maximum of Rs.50 lacs. The promoter’s contribution should be minimum 25% of the project cost and Term Loans are provided by Banks through NABARD. An entrepreneur can avail either this or the other subsidy being given by Rajasthan State Agriculture Marketing Board.
New Industries Exempted from Income Tax in 12 Backward Districts of Rajasthan.
As per a decision taken by the Central Government, new industries in 12 backward districts of Rajasthan have been exempted from income tax. These 12 districts are among the 123 such backward districts in the country
jaipur
Explanation:
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Answer: The facilities given by the government for industrial development in rajasthan are discussed below:
- Shahajahanpur, Khushkheea, Neemrana, Jurhera, Bharatpur and Behror are the Rajasthan's industrial estates where RIICO in rajasthan developed more than 16,500 industries.
- For quantum growth an added advantage of modern infrastructure system like water, electricity, education institutions, telecommunication, tourism, wildlife parks,hospitals, media- center and congenial climate etc. which made rajasthan an ideal place for industrialization.
- Government departments of Rajasthan are participating in programme of developing industrial area and townships which provides total infrastructure support to industrial projects.
- 279 industrial areas are developed so far by RIICO according to which social and industrial infrastructure development are there priority.
- RIICO also direct industries the equality support . Moreover it also provides financial assistance like working capital loans and term loans .
- These term loans are provided by financial corporation in assistance to tiny, small and medium projects.