CHHATTISGARH INDUSTRIAL DEVELOPMENT POLICY 2024–30
Dear-Businessman/Investors,
In Series of KIP: Business and Subsidy Update, today we are going to share with you an informative series i.e., “Marginal Money Subsidy” under CHHATTISGARH INDUSTRIAL DEVELOPMENT POLICY 2024–30
Objective:
The objectives of the Industrial Development Policy 2024–30 focuses on fostering comprehensive growth across sectors in various development blocks of Chhattisgarh, aligning with the vision of “Amrit Kaal: Chhattisgarh Vision @ 2047.” The policy aims to create an investor-friendly environment, streamline administrative processes, and encourage the development of industries based on local resources and advanced technologies. Additionally, it seeks to leverage the state’s geographic advantages and natural resources to establish Chhattisgarh as a hub of industrial and economic progress.
Quantum of Assistance:
Marginal Money Subsidy: New micro and small enterprises established by entrepreneurs from Scheduled Caste / Scheduled Tribe, women, ex‐servicemen / retired Agniveer, persons affected by Naxalism, third-gender individuals, and differently-abled (disabled) entrepreneurs are eligible.
- The subsidy is equal to 25% of the capital investment made by such eligible enterprises.
- The amount of capital investment eligible under this subsidy is up to ₹10 Crore (i.e., the project cost/investment up to ₹10 Crore).
- The maximum subsidy amount is capped at ₹100 Lakh (i.e. ₹1 Crore).
For an eligible entrepreneur with a new micro or small enterprise, up to 25% of their capital investment (subject to a cap of ₹1 Crore) can be granted as margin money subsidy.
Eligible Entities:
Under this scheme incentives can avail by an entity/organisation such as Proprietary, Partnership, Pvt. Ltd. Company, Public Ltd., LLP (Limited Liability Partnership) and Co-operative society etc.
Eligibility Criteria:
The subsidy is available for new micro and small enterprises established in Chhattisgarh by entrepreneurs of the Scheduled Caste (SC) or Scheduled Tribe (ST) category.
- The capital investment of the eligible enterprise must be up to ₹10 crore.
- The subsidy rate is 25% of the capital investment, subject to a maximum subsidy amount of ₹100 lakh (i.e., ₹1 crore).
- The enterprise must be new (i.e., newly set up) in the state, not simply an expansion of an existing unit under this particular provision.
- The entrepreneur must be a resident/domicile of the state (implicitly for classification as SC/ST entrepreneur in Chhattisgarh). While this is not explicitly repeated in every clause for margin money subsidy, it is part of the general eligibility environment for the policy.
Commencement and Applicability:
The Industrial Development Policy 2024–30 will be effective from 1 November 2024 till 31 March 2030.
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