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Government Subsidies
Subsidy is the money given directly to companies, organizations, or individuals by the State Government or Central Government or any Govt. authority in form of Incentive for Capital Investments made for setting up new business or expansion / diversification of existing business. Subsidies aim to encourage production, boost exports, promote research, prevent a business from collapsing, or reduce unemployment.
State of Maharashtra has introduced various Industrial Policies for strengthening of MSME & Large Scale Industries (LSI) with a view to help the units achieve higher, sustainable and inclusive economic growth with emphasis on balanced regional development and employment generation.
Package Scheme of Incentives, 2019 or PSI 2019 is one such Current Industrial Policy for MSME & LSI in the State of Maharashtra along with other industrial policies for different sectors. As per the PSI 2019, Subsidies can be granted upto 100% of Capital Investment made by the Companies.
- Eligible Companies: Companies following in given category are Eligible for the Scheme.
- Industries Listed In 1st Schedule Of Industries (Development & Registration) Act, 1951.
- Manufacturing Entities as per MSMED Act, 2006.
- IT Manufacturing Units Registered With DIC Or MIDC/ DC/ SSSPZ/ STPI.
Food Agro Processing Industries - Dairy, Fruits & Vegetables
- Grain Processing
- Fish/Meat/ Poultry Processing
- Consumer Foods Including Packed Foods
- Non Alcoholic Beverages From Fruits & Vegetables
- Negative Items :
- Alcohol Products
- Cigarette, Tobacco
- Gutka, Pan Masala
- Eligible companies are further classified into 4 types of Industries based on Fixed Capital Investments as follows:
- MSMEs as per MSMED Act, 2006
- Large Scale Industries
- Special LSI (Except Units in A & B Zones)
- Mega Projects/ Ultra Mega Projects
- For the purposes of the PSI- 2019, detailed Taluka wise classification of different areas of the State as Group A /B/ C/ D/ D + etc., has been done on the basis of their level of industrial development.
- If Company is eligible for this scheme, then it can avail benefit of various Incentives listed as follows:
- Industrial Promotion Subsidy / GST Subsidy,
- Interest Subsidy upto 5 % p.a.,
- Exemption from Electricity Duty,
- Waiver of Stamp Duty,
- Power Tariff Subsidy,
- Other Additional Incentives
Before proceeding with the Application to respective Govt. Department, one needs to know about all the conditions for eligibility & documentation for granting of Subsidy. It is rightly said that “Without Strategy, Execution is Aimless.” Here at SCPL, we first focus on strategy then execute our Work. Our Team of Experts will assist you for taking