New investment promotion scheme announced

TNN, Aug 26, 2010, 01.21am IST

JAIPUR: The state government has announced a new Rajasthan Investment
Promotion scheme (RIPS) 2010 in the form of a package of financial
incentives and subsidies. For the first time investment and employment
generation subsidy has been introduced in the new scheme.

The new RIPS 2010 provides better benefits to investors compared to
the existing one. The new scheme gives concession for setting up of
new enterprise, enterprise going for expansion, modernisation and
diversification, and projects set up for social good.

According to finance department officials, the new scheme gives more
emphasis on employment generation, uplift of women, SC/ST and people
with disability.

The government has offered a subsidy of Rs 10,000 per annum for each
employee, while this subsidy would be Rs 12,000 for employees
belonging to women, SC/ST and people with disability.

Similarly, for women, SC/ST and entrepreneurs with disability an
additional 10% subsidy will be given on taxes as against 50% to the
general category. Again 50% excemption from land tax has been given
for the first time in the state. Subsidy and excemption for micro,
small and medium enterprise in the notified area has been extended to
10 years compared to seven years for other categories under the new

The policy states all kinds of investment are eligible for subsidy,
including self-finance, to motivate investors. The cheme also
simplifies the procedure for grant and disbursement of subsidy and
provides transparency in the system by introducing on-line
disbursement of subsidy.

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