The new policy is offering incentives bracketing them in three major categories of A, B and C. The incentives like capital investment subsidy, interest subsidy, employment intensive subsidy and venture capital assistance are being offered in a big way.
A provision of interest subsidy will also be available. Besides, the grant of employment intensive subsidy of 15 % on labour wages subject to a maximum of Rs 5 lakh a year, a provision of interest subsidy will also be available.
All those MSMEs which adopt innovative technologies
like nano will be offered venture capital assistance .
The new policy also offers power subsidy, transport subsidy in graded manner and entitles for Value Added Tax or Goods & Services Tax in the first five years after the production.
The government will also provide all support for the
cluster development schemes of the central government and set up mini
tool rooms including financial assistance of Rs 50 lakh per unit for
creation of basic infrastructure for setting up centres of excellence
At least 25% of the areas in the new industrial estates developed by the State Industrial Development Corporation of Uttarakhand (SIDCUL) will be reserved for MSMEs. It is the most interesting decision of the new policy. The SIDCUL would also promises to provide land to MSMEs at a concession rate.