Agartala, Apr 23(PTI) The Tripura government has made “massive changes” in its industrial scheme to attract investments and pave the way for faster economic growth in the state.
Taking to Twitter, Chief Minister Biplab Kumar Deb said on Saturday that the upper limit to avail state subsidy on MSME investments has been increased to Rs 1 crore.
Earlier, the cap for subsidy was Rs 60 lakh.
“Massive changes have been made in Tripura Industrial Investment Promotion Scheme (TIIPIS)-2022 to increase investment in the state. To avail state subsidy for MSME, the upper limit has been increased to Rs 1 crore,” Deb said in a tweet on Saturday.
The CM also said that the state, in its bid to boost the manufacturing sector, will give a “50% subsidy on movement of secondary raw materials (to the state) from outside”.
The transport subsidy for bringing raw materials to the state from elsewhere was 10 per cent thus far.
Deb announced that fees charged for certifications such as ISO and BIS would be reimbursed by the state, as his government sought to bolster the ‘Made in Tripura’ initiative.
“It will help the state march ahead on the path of Atmanirbharta (self-dependence) and will open new avenues of economic development, ” he said.
A senior official of Industries & Commerce department said on Saturday that various subsidies can be availed by cooperatives and self-help groups for setting up industries in the state, under the new industrial scheme.
He also said that rubber, bamboo, tea, gas, horticulture, tourism, healthcare services and waste management will be placed under priority sector when it comes to doling out incentives.
Incentives for investments in the state have been substantially increased to attract businessmen and create employment generation, the official said.
“The priority sectors will get a 40 percent subsidy on capital investment while the non-thrust sectors a healthy 30 percent subsidy. Also, for setting up industries in sectors such as horticulture, real estate, logistic hub infrastructure development on a 30-acre land, a capital subsidy to the tune of Rs 5 lakh shall be available,” he maintained.
Apart from this, a one-time incentive shall be given to those MSME units for floating tenders, attending fairs, expo meets and exhibitions under the new policy.
The new industrial scheme that came into effect on April 1 will remain in place till March 31, 2027. PTI PS RMS RMS
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.