Bhubaneswar : , Tuesday, November 23rd, 2009: Chief Minister Naveen Patel approved the Electronics Policy 2021 by the Odisha Cabinet to attract investors into this sector. Chief Secretary SC Mahapatra stated that the Odisha Electronics Policy 2021 was designed to position Odisha in a favorable location for the electronics industry by creating a friendly, industry-friendly industrial climate, leading infrastructure, supporting facilities, and policy initiatives.
According to a government press release, ESDM units will receive fixed capital investment subsidy ranging between Rs 10 crore and Rs 250 crore based on their fixed capital investment.
The policy provides for the state government to exempt electricity duty and inspection fees for a 5-year period.
Subsidy for power bills would be provided to eligible ESDM units for a period 5 years at 30%, with a limit of Rs 50 lakh per unit.
Investors in this category will also be exempted from stamp duty at 100% and 50% for second transactions.
For land conversion from agricultural to industrial use, 100 percent of the land conversion fees will be reimbursed.
Women entrepreneurs, persons with disabilities, and local entrepreneurs will receive additional incentives.
This Policy will continue to be in effect until March 2026.
The Cabinet also approved a policy that will deal with land issues that have been pending against different educational institutions of the State for many decades.
Sudam Marndi, State Revenue Minister, stated that 51 government colleges and 644 aided college have under their control 180 acres and 1713 acres, respectively.
In the same way, 1,274 high school are located on government land.
He said that the total value of these schools will exceed Rs 4,000 crore.
Institutions are unable to pay dues such as premium, incidental charges and annual ground rent.
He stated that all land under the occupation of standalone government degree college and standalone government Plus II colleges would be recorded under the names of Higher Education department or School & Mass Education division respectively with marfat of the respective degree colleges/higher secondary schools.
The Cabinet approved the amendment to Industrial Policy Resolution 2015 with an addition to provide incentives for new mega industries.
This package of incentives includes capital subsidy up to 30%, reimbursement of SGST and energy tariff exemptions, as well as employment cost subsidy for Odia employees.
Officials believe that the proposed amendments will attract investments in excess of Rs 12,000 crore for the state, creating jobs for more than 35,000 people.
The Odisha Cabinet approved 12 mega-piped drinking water supply projects at an investment of approximately Rs 1,800 crore.
In the meantime, the Council of Ministers approved the first supplementary budget for 2021-22.
It is due to be presented before the Odisha Assembly in December 1.
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