Subsidy for Cotton Ginning, Pressing, Bailing & Lintering Units
Agriculture Infrastructure Fund के तहत कोई नया बिज़नेस शुरू
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Today we are going to share with you Subsidy schemes available on Cotton Ginning, Pressing, Bailing & Lintering Units Subsidy . Cotton Ginning, Pressing, Bailing and Lintering units is used in the textile industry which contribute the maximum on the production of clothes, textiles etc. The process of cotton ginning is modern techniques which can ease the further process. As earlier the man labor is used for separating the cotton seeds from the fiber which takes more time and low quality of cotton. Now with the modern machines and techniques this industry have more demanded and profitable.
So If you planning to invest funds in cotton business, we are here to assist you in availing financial benefits available under central government schemes such as Agriculture Infrastructure Fund Scheme and State Government Scheme as Haryana Enterprises and Employment Policy, 2020:
Eligible beneficiary in Cotton Ginning, Pressing, Bailing & Lintering Units Subsidy :
· Agri-Entrepreneur/ Individual/ Proprietary firms,
· Companies/ Partnership/Cooperation,
· Farmer/ Group of farmers/Farmer Producers Organization,
· Cooperative society, Self Help Group,
Financial Assistance/Subsidy/Benefits Available in Cotton Ginning, Pressing, Bailing & Lintering Units Subsidy :
(I) Agriculture Infrastructure Fund Scheme: The scheme provided financial assistance on loan/ credit guarantee availed by the entity engaged in cotton ginning, pressing, bailing, cleaning, drying, seed cake etc. but doesn’t include activities such as Fiber making, Fibrescouring and weaving.
Pattern of Assistance:
Interest Subvention Cost
Credit Guarantee Cost
Term Loans taken for the project up to a limit of ₹ 2 crores will get interest subvention of 3% per annum for 7 years.
Eligible borrowers availing loan for the project upto Rs. 2 Crore will get credit guarantee coverage as facilitated by CGTMSE. The fee charged for credit guarantee coverage will be paid by the Government for loan upto Rs. 2 Crore.
Time limit for availing benefit:
The scheme is in operation from 2020-21 and will remain in operation 2032-33. However, the loan disbursement period will be till 2025-26, i.e. the eligible person must avail bank finance till 2025-26 to take benefits under this scheme.
(II) Haryana Enterprise and Employment Policy, 2020 (HEEP, 2020):
The policy is applicable to the all entities setting business in Haryana. The unit must have MSME and HUM Registration and commenced its commercial production on or after 01.01.2021. This scheme is valid for next 5 year.
Pattern of Assistance:
1. Stamp Duty refund: Maximum 100% refund of stamp duty paid on the purchase/lease of the land and Building for the business.
2. Electricity Duty Exemption: Maximum 100% exemption of Electricity duty paid on the bills of the electricity up to 12 years for the installation of separate power connection.
3. Subsidy on Employment Generation: Maximum subsidy of Rs 36,000 per person per year for the 7 years subject to the employees are belong to Haryana.
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.
If you are interested to invest your funds in Cotton Ginning activity, then you can take benefits of the above said schemes.
To know more about our another subsidy scheme such as MSME units, AIF, and other more. Then you can join our BSU plan and get all latest and regular updates regarding business and subsidy on weekly basis.
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