Subsidies on Flour Mill
Subsidy on Flour Mill
Are you want to set up Flour Mill?
Are you want to know subsidy benefits applicable on Flour Mill?
We are going to share with you Subsidy schemes available on setting up a Flour Mill.
Rich or poor, children or adult, everyone is consumer of products made from flour. Flour is the basic ingredient in food industry. Setting of a flour mill attracts many subsidy schemes issued by the Government of India.
Estimated cost required to set up a Flour Mill in 8000 Sq. Ft. is:
1 Civil Works = 32 Lakhs
2 Plant & Machineries = 140 Lakhs
3 Miscellaneous Fixed Assets = 2 Lakhs
4 Working Capital Margin Money = 50 Lakhs
5 Preliminary & Preoperative Expenses = 1 Lakhs
Total Project Cost = 225 Lakhs
Subsidy on Flour Mill:-
1. Agriculture Infrastructure Fund Scheme (Central Government Scheme):
The scheme provides financial assistance on setting up business of Flour Mill 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 flour mill having MSME and HUM Registration. It provides financial support in form of various subsidy schemes such as:
1. Electricity Duty Exemption: Max. 100% exemption on electricity duty for 12 years.
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. Stamp Duty Refund:
100% exemption on stamp duty paid on purchase of land for silo project.
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 flour mill, then you should plan accordingly and take maximum benefit of the above said policies.
For more details you may contact at- 9017151780
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