Odisha Govt provides Incentives for development of Mega Food Parks, Sea Food Parks in state

seafBhubaneswar: Odisha Food Processing Policy 2013 has stipulated numerous incentives for development of Mega Food Parks and Sea Food Parks in the state.
Capital subsidy up to 20% of the project cost subject to limit of Rs. 15 crore will be provided to special purpose vehicle (SPV) to develop Mega Food Park and Sea Food Park. The subsidy can also be in the form of equity participation from Government of Odisha through a special purpose vehicle (SPV).
State Government will provide reimbursement of Rs. 5 lakh on the cost of preparation of DPR for setting up of Mega Food Parks besides Government of India grants. If the project report is prepared for carbon credit then the unit will get 50% of the consultancy charges with a capital of Rs. 20 lakhs.
The enterprises in the Mega Food Park and Sea Food Park will be eligible for reimbursement of 100% VAT paid for a period of 10 years limited to 200% of fixed capital investment.
Industrial units set up in the Mega Food Park and Sea Food Park will be provided Capital Investment subsidy of 25% of the project cost (Excluding cost of land) subject to a limit of Rs. 2 crore. In case of units promoted by women entrepreneurs, or entrepreneurs belonging to Schedule Caste/Schedule Tribe and units promoted in KBK districts, the subsidy shall be 33% of the project cost subject to a limit of Rs. 3 crore.
There will be exemption of Entry Tax on plant and machinery procured by enterprises setting in Mega Food Parks and Sea Food Parks.
Odisha Food Processing Policy 2013 also provides for exemption of Entry Tax on raw materials for enterprises setting in Mega Food Parks and Sea Food Parks. This exemption shall be for a period of 5 years from the date of commercial production.

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OdishaInc Bureau