Block Categorization for the purpose of Subsidy

Block Categorization for the purpose of Subsidy 

 

Block Categorization for the purpose of Subsidy – As you are planning for the new business setup or taking the decision for the land procurement for your business. It is important to decide that in which block of the state it will fall so that you may get the maximum benefit of the subsidy. This is the important decision before setup any business which helps you in decision making and maximum financial benefits.

All the states have classified their areas into the blocks to categories them and develop them in all aspects by providing the incentives so that private sector will invest and get the business opportunity in all the blocks.

The motive behind the categorization is to development of all the areas so that no part will left backward. So, there is high incentives available in the backward areas rather than developed areas in order to support them.

Like the states as Haryana, Punjab, Gujarat, all the states have classified their geographical location into blocks. Haryana will classify as A, B, C, D Blocks and Gujarat will classify as Category I, II, III. For the subsidy entitlement, State will decide the incentive according to the categorization of block.

Under the Haryana state, Block Categorization for the purpose of Subsidy mention below:-

A Block- Industrially Developed Areas
B Block- Industrially Intermediate Developed Areas
C Block- Industrially Backward Areas
D Block- Industrially Most backward Areas

Download Block Category List- https://kipfinancial.com/wp-content/uploads/2023/01/Block-Category-Haryana.pdf

Financial Assistance/Subsidy/Benefits Available under Block:

All the incentives are directly link with the block in which the location of the site will fall and the subsidy will claim with that respective rate as prescribed in the policy for that block.

Here are the some classification of subsidies available for the respective blocks as:

1 Capital Subsidy: Applicable in C and D Block and not applicable for Block A and B.

2 Interest Subsidy: Applicable in block B, C and D only.

3 Stamp Duty: Applicable in all block

4 SGST payment: Applicable in block B, C and D only.

5 Gramin Udyogik Vikas Yojna: Applicable in block B, C and D only.

From the above classification, there is majorly all benefits will available to the C and D Category Blocks of the state due to their development in high phase rather than A and B Block. So the major benefits you may avail in the C and D Category Block.

Hence, if you are going to setup the new business unit or search for the right place for your business, you must aware about the block category of that area in the state which provide you the maximum government financial support.

We at KIP Launched the Warehouse Business & Subsidy Updates Plan for the investors/ businessman, who are interested or doing warehouse business.

We at KIP providing WAREHOUSE BUSINESS Services Since 2008.

To know more– https://kipfinancial.com/warehouse-business/

For joining– https://rzp.io/l/warehousebusinesssubsidy

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