What are the incentives provided by the government for industries in backward and hilly areas?
Answers
Machineries
Loan
seeds
warehouses to store
A portion of the regular incentives given by the government far industries in reverse and uneven areas are as per the following
(i) Land Every state offers created plots for setting up of industries. The terms and conditions may fluctuate. A few states don't charge lease in the initial years, while some permit payments in installments.
(ii) Power is provided at a concessional rate of 50 %, while a few states excluded such units from an installment in the initial years.
(iii) Water is provided on the no-profit, no-misfortune premise or with 50 % concession or exemption from water charges for a period of 5 years.
(iv) Sales Tax In every single association territory, industries are exempted from sales assess, while a few states broaden the exemption for a long time period.
(v) Octroi Most states have annulled octroi.
(vi) Raw Materials Units situated in reverse areas get particular treatment in the matter of apportioning of rare crude materials like concrete, iron, and steel, and so forth.
(vii) Finance Subsidy of 10-15 % is given for building capital resources. Credits are likewise offered at concessional rates.
(viii) Marketing Assistance Government attempts to take care of their marketing issue by improving information and in request to give a guarantee to the sale of goods.
(ix) Tax Holiday Exemption from paying taxes for 5 or 10 years is given to industries built up in reverse, sloping and tribal areas."