हिंदी
Priority to set up industries to give employment to youth: Dushyant Chautala
Investment subsidy will be given in lieu of net SGST: Deputy CM
Chandigarh, Aug 2– Haryana Deputy Chief Minister, Sh. Dushyant Chautala informed that the State Government has prepared a scheme of ‘Investment Subsidy in lieu of Net SGST’ in order to attract more and more investors in the State, under which projects from MSMEs to Ultra-Mega will be given subsidy.
With the establishment of more industries, employment opportunities will be directly enhanced for more and more youth of the state.
Giving this information today, the Deputy Chief Minister, who also holds the portfolio of Industries and Commerce Department, said that the ‘Haryana Enterprises and Employment Policy, 2020’ has been formulated by the State Government with the main objective to make the State a major investment-destination and to facilitate balance between regional and sustainable development through an energy efficient Governance system. He said that the State Government realized that to attract the investors in backward areas, the State needs to provide support in setting up of infrastructure and better ‘Ease of Doing’ system as well as ‘Investment Subsidy in lieu of Net SGST’. There is also a need to provide major financial incentives in the form of this will reduce the cost of their business and make the industry more competitive and sustainable.
Sh. Dushyant Chautala informed that a customized package will be offered by the ‘Haryana Enterprises Promotion Board’ to the ultra mega projects across the State. The quantum and duration of ‘Investment Subsidy in lieu of Net SGST’ will be decided by this board itself. He also informed that such clusters, which include at least 10 enterprises engaged in similar economic activities, which are established or relocating to Haryana from other countries/states, will be considered as a mega project provided that it meets the criteria of ‘Fixed Capital Investment’ (FCI). He said that on the basis of ‘Cost Benefit Analysis’, a special package will be decided by the ‘Haryana Enterprises Promotion Board’ as an incentive for this mega project.
Giving detailed information about the ‘Investment Subsidy in lieu of Net SGST’ scheme given to the Industries, the Deputy Chief Minister said that for the first 5 years, the industry set up in the ‘D-category’ section by the State Government will be given ‘Net SGST’ of 75 percent, and 35 percent (maximum 125 percent of fixed capital investment) will be given for the next 3 years. Similarly, industries falling in the ‘C-category’ segment will get 50 percent of ‘Net SGST’ for the first 5 years, and 25 per cent for next 3 years (maximum 100 per cent of fixed capital investment) and ‘B-category’ industries engaged in this segment will be given 30 percent of ‘Net SGST’ for the first 5 years, and 15 percent (maximum of 100 per cent of fixed capital investment) for the next 3 years from the commencement of manufacturing of commercial products.
Sh. Dushyant Chautala further informed that in mega projects which will have ‘inverted duties’, subsidy up to 5 percent of FCI (Fixed Capital Investment) will be given in equal annual installments for a period of 8 years. This would be a maximum annual limit of Rs. 5 crore for a mega project. He said that in cases where ‘Net SGST’ under cash ledger is less than 5 percent of FCI in a year, a subsidy of up to 5 percent of FCI (Fixed Capital Investment) will be given in equal annual installments for a period of 8 years. In this also, there will be an annual limit of maximum Rs. 5 crore for a mega project.
