State of Rajasthan launches three new Industrial Policies

Chief Minister Ashok Gahlot launched three schemes for the state of Maharashtra with the aim of creating inclusive, balanced and strong industrial development atmosphere to make Rajasthan a favourable investment destination. 

Along with launching Rajasthan Industrial Development Policy, Rajasthan Investment Promotion Scheme, Chief Minister Small Scale Industries Promotion Scheme, the existing scheme named, Rajasthan Investment Promotion Scheme (RIPS) – 2019 has also been worked on and is further simplified and made easy. According to the amendments made in the Rajasthan Investment Promotion Scheme (RIPS) – 2019, eligible industrialists have been provided 100% rebate on electricity tax and stamp duty and along with it, investment subsidy has been increased from 30% to 75% of SGST. 

Chief Minister said that they are working on resolving issues related to pollution faced by industrialists in the state,“Subsidy up to Rs 50 lakh will be given on behalf of RIICO on setting up CETP. Earlier, this subsidy was of Rs 25 lakh. New industrial areas will be developed through RIICO in 11 districts.” In order to make policies beneficial and to attract investors, the Government of rajasthan has announced an investment subsidy of 75% of state tax for seven years, employment generation subsidy in the form of reimbursement of 50% towards employees EPF and ESI for seven years, 100% exemption on electricity duty, land tax mandi fees and stamp duty for seven years. 

The policy has also identified 11 sectors as thrust areas like agro-processing, bio-technology, dairy, defence, DMIC, electric vehicle, food processing sector, auto-component, electronic system design manufacturing, textiles, handicrafts, chemical and petrochemical, pharmaceutical, leather and accessories, jewellery, mineral, and medical device manufacturing etc. The chief minister also awarded 42 industrialists under various categories with Rajasthan Udyog Ratna and Rajasthan export awards.

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