Bhubaneswar: The Odisha Cabinet today approved certain amendments in Odisha MSME Development Policy ‘2022 for its smooth implementation.
The amendments are as under:
- Some MSMEs are getting debarred to avail higher financial incentives from the State Government as because of they have availed similar incentive from Government of India. With this amendment, differential amount of financial benefit can be extended to them, who have availed similar incentive from Government of India, if the state policy offers higher incentives.
- Currently there is provision of exemption of “Stamp duty” and “Land Conversion Premium” only. With this amendment, provision of reimbursement will be added which will give an entrepreneur two options i.e. exemption or reimbursement to choose from. This will help those MSMEs which do not want to delay their project waiting for exemption order to be issued. They can rather pay the stamp duty and land conversion premium upfront to expedite their project execution and seek reimbursement later.
- Enhancement of the timeline for condonation of delay, from the present limit of 60 days to 90 days, for filing of application for incentives by MSMEs for reasons not ascribable to them.
- To encourage environment friendly. manufacturing activities, recycling or polythene and plastic has been removed from ‘Negative List’.
- Promote large investment (i.e. Rs.1 crore and above) in packaged drinking water.
