Shimla, 02-05-2022: According to official sources, the Himachal Pradesh administration has made significant revisions to the State Industrial Policy. The Himachal Pradesh Industrial Investment Policy 2019 was notified by the state government on August 16, 2019, with the goal of providing incentives, concessions, and facilities to encourage investment in the hill state.
For MSME, large, and anchor enterprises, he said, major incentives include a 50% subsidy toward the cost of a detailed project report, a 3% interest subsidy, 50% assistance for plant and machinery transportation, a 3.5 percent transportation subsidy, 50% assistance for quality certification, 25% assistance for setting up an effluent treatment plant, and a 50-90 percent Net SGST reimbursement, among others.
The state government made major modifications to the State Industrial Policy in response to demands from industrialists and field offices.
The first industrial enterprise in a notified industrial area, or the first such unit outside an industrial area in a certain development block of a district, with a minimum fixed capital investment, was redefined as an anchor enterprise.
Category A businesses have a minimum fixed capital investment of Rs 200 crore and employ a minimum of 200 genuine Himachalies. Category B businesses have a minimum fixed capital investment of Rs 150 crore and employ a minimum of 150 Bonafide Himachalies.
Category C businesses will have a minimum fixed capital investment of Rs 100 crore and employ a minimum of 100 Bonafide Himachalies, according to the official.
Cost accountants are included in the definition of consultant, according to the source.
He noted that the policy’s sunset clause for giving incentives was extended from December 31, 2022, to December 31, 2025. Qualifying businesses who were unable to claim SGST reimbursement due to the Excise and Taxation Department’s pending assessment of net SGST might apply until December 31, 2022.
According to the spokesperson, 5% reserve of land/plots/sheds will be made when such land would be utilized to start a business by people with disabilities, either individually or collectively, in newly recognized Industrial Areas. Existing and new businesses that employ 5% of the total workforce with a baseline disability will be entitled for an additional incentive of Rs 1,000 per month for every such employee for three years, he said.
New development blocks Naina Devi Ji, Bali Chowki, Dhanotu, Nihri, Churag, Totu, Kupvi, Kothkhai, and Tilordhar have been added to the state’s category B regions.
The list of specified categories of service activities also includes a skill development centre, health infrastructure, hospital, common effluent treatment plant, sewage treatment plant, distribution of universally designed consumer products and accessories for general use by persons with disabilities, and distribution of universally designed consumer products and accessories for general use by persons with disabilities.