Assistance available under the new garment policy of Government of Madhya Pradesh
The maximum assistance available under various heads of the garment new policy will be up to 200% of investment in plant and machinery. A large unit will be the one having investment in plant and machinery of over Rs. 10 crore. The investments made by the unit, three years before or three years after commencement of commercial production, will be considered for calculations of assistance amount.
Reimbursement of interest @ 5% per annum on term loans taken from Financial Institutions/Banks for purchase of plant and machinery approved by Government of India for its Amended Technology Upgradation Fund Scheme (ATUFS) for a period of 7 years.
Investment Promotion Assistance
Assistance as per Order dated
13th October 2017 of the State Government. This is in place of
VAT and CST Refund Scheme. The assistance is based on Gross Supply Market Multiple, Export Multiple and Employment Multiple.
Training Expenses/ Employment Generation Assistance
• Training expenses @ Rs. 13,000/- per annum for 5 years with respect to whether the employee is trained and resident of the State.
• Employment Generation @ Rs. 1,500 per month per employee in respect of all those new employees who are appointed in the first 8 years from the start of commercial production. The period of assistance will be 5 years. The assistance will be limited to 10 years; this implies that for a new employee appointed in the 8th year, the assistance will be available for two years only. If the above ratio is not maintained, the assistance will be reduced proportionately.
Reimbursement of stamp duty and registration charges
The units, which take land in Industrial Areas established by the State Government, will be reimbursed such charges.
Units taking land in Government Industrial Areas will be allowed 50% rebate in Development Charges payable, which will be in addition to rebate in premium as per MP Industrial Land & Building Management Rules, 2015.
Exemption from Electricity Duty
All eligible new units will get exemption from payment of Electricity Duty for a period of 7 years.
Rebate in Electricity Tariff
The new units will get electricity at fixed rate of Rs. 5/- per unit for a period of 5 years.
For availing above concessions/ assistance, the units should start commercial production between 1st April 2018 and 31st March 2022.
The units which invest up to 75% of proposed investment will be allowed one year extra for availing these concessions/assistances.