Subsidies on Turmeric Processing Plant
Subsidies on Turmeric Processing Plant
Are you want to set up Turmeric Processing Plant?
Dear Businessman/Investors,
We are going to share with you Subsidy schemes available on setting up a “Turmeric Processing Plant”.
In India, there is essential food element as Turmeric which is required all over the Country and highly demanded as essential food products. There is requirement of turmeric to be processed and available to the consumer for their end uses. Also, to support the turmeric processing units, the Central Government as well as State Government support financially by providing the various subsidy schemes on their investment, loan interest or other various cost to the units.To know more about it Book your Free Consultancy- https://forms.gle/xye2nyGYMSumfpUB9
Financial Assistance/Subsidy/Benefits Available:-
1. Agriculture Infrastructure Fund Scheme (Central Government Scheme):
The scheme provides financial assistance on setting up business of Turmeric Processing Plant to companies, partnership, proprietary firms, individual, etc. in form of Interest Subvention of 3% per annum for 7 years and credit guarantee coverage fees as facilitated by CGTMSE available on loan up to a limit of ₹ 2 crores.
Note: The scheme is in operation from 2020-21 and will remain in operation 2032-33.
2. Haryana Enterprises and Employment Policy, 2020 (HEEP) (State Government Scheme):
The policy is applicable to the all entities setting business of Turmeric Processing Plant having MSME and HUM Registration. It provides financial support in form of various subsidy schemes such as:
1. Testing Equipment Assistance Scheme: Subsidy of 50% available on purchase of new testing equipment, maximum up to Rs. 20 lakh per year.
2. External Development Charges Exemption: Max. 100% exemption on charges paid for external development which includes Change of land use (CLU) charges, labor cess for the construction of building etc.
3. Interest Subsidy: Up to 6% subsidy available on term loan for Micro and Small Enterprises, maximum Rs. 20 Lakh per annum for 5 Years.
Note: There are several other schemes under HEEP issued by state government, the quantum of benefits available under these schemes depend upon the block as specified by the government under which the entity falls.
Time limit to apply under HEEP:
Within 3 Months from the commencement of commercial production.
So if you are planning to set up a business of Turmeric Processing Plant, then you should plan accordingly and take maximum benefit of the above said policies.
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