BHUBANESWAR: State cabinet chaired by chief minister Mohan Majhi on Saturday approved to amend Industrial Policy Resolution 2015 offering industries more flexibility in the timeframe for claimingincentives.
According to the amendment, industries can submit claims for various govt incentives and certificates within two years of commissioning their projects. Earlier, the period was one year. For delays beyond two years, industries can apply for condonation of the delay to the chief secretary, a govt statement said.
As a one-time relaxation, investors who have already commenced commercial production but failed to file their application within the due date, yet submitted it before June 2023, will also be considered for incentives.
The govt extends multiple financial benefits to industrial establishments under the Industrial Policy Resolution (IPR). The comprehensive support package encompasses subsidies for capital investment in equipment, exemptions from electricity duty, power tariff reimbursements, and SGST refunds.
Additional incentives include waivers on stamp duty and land registration charges, subsidies for employment costs, and assistance for quality certifications. Furthermore, enterprises establishing facilities in underdeveloped districts receive supplementary advantages.
