Subsidy on Irrigation Pipe
Subsidy on Irrigation Pipe
Are you want to start Irrigation Pipe Business?
We are going to share with you Subsidy schemes available on setting up a “Business of Irrigation Pipe”.
In India, there is need to automate or make the use of technology more for the efficient and effective working in any organization to boost the sale and meet the demand of the Country. As there is highly demand of agriculture produce as this is the basic amenities for Human. To boost and support in agriculture activity, there is always encouragement for the business of irrigation pipe which is used in the agriculture. For this, Government is also support financially and non-financially to the units. There is various schemes of the Government of Haryana to support the irrigation pipe business unit to reduce the cost burden.
Financial Assistance/Subsidy/Benefits Available on Irrigation Pipe Business:
1. Scheme for all the unit having business of Irrigation Pipe in the State of Haryana-
Haryana Enterprises and Employment Policy, 2020 (HEEP):
The policy is applicable to the all entities setting business of Irrigation Pipe having MSME and HUM Registration. It provides financial support in form of various subsidy schemes such as:
- Interest Subsidy: 5% subsidy on the interest of Term Loan for 5 years to the Micro and Small units but subject to the maximum Rs 20 Lakh per annum.
- Electricity Duty Exemption: Maximum 100% exemption of electricity duty paid on the electricity bill upto 12 years for installing the separate power connection.
- External Development Charges (EDC) Reimbursement: Maximum 100% of EDC charges will be reimbursed to the unit. EDC charges includes the charges paid at the time of obtaining change of land use (CLU) from DTP.
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.
2. Capital Subsidy under Haryana Gramin Udyogik Vikas Yojna:
To encourage the small business to invest and develop, there is capital subsidy available to the business which reduce the cost burden to the unit. Subsidy is available only for Micro Enterprises having investment in plant and machinery is Rs 1 Crore.
The subsidy available is 15% on investment in plant and machinery, building with subject to maximum Rs. 20 lakh per year.
3. Special Incentive for Irrigation Pipe Business having Start-up Registration:
The Haryana Government will provide the special incentives for the units having irrigation pipe business who will registered under startup to encourage them and boost the new innovation and technology to promote the industrial base. The following subsidies are available for start-up units as follow:
a. Net SGST subsidy: 100% of Net SGST for 7 years but maximum up to 150% of fixed capital Investment.
b. Lease rental subsidy: 30% for general and 45% for start-ups with only women founders.
c. Seed Grant subsidy up to INR10 Lakh per start-up subject to block category of unit and many more subsidies are also available to the units.
So if you are planning to set up a business of Irrigation Pipe, then you should plan accordingly and take maximum benefit of the above said policies.
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