Updated on December 19, 2024 03:50:39 PM
The MSME Subsidy in Himachal Pradesh aims to promote the growth and development of Micro, Small, and Medium Enterprises (MSMEs) in the state. The MSME Subsidy in Himachal Pradesh recognizes the role of Micro, Small, and Medium Enterprises to boost the economic development, create jobs and encourage entrepreneurship to support these businesses. The MSME Subsidy in Himachal Pradesh offers financial assistance for capital investment, technology upgradation and skill development to aid the MSMEs overcome hardships and promote competition. The MSME Subsidy in Himachal Pradesh is designed to boost industrialization, increase production, make the state sustainable for economic growth to enhance the overall development of the state with access to resources, facilities and reduction of financial burdens.
The MSME Subsidy in Himachal Pradesh is given to Micro, Small and Medium Enterprises to help them achieve financial support for setting up the enterprises, for expansion and improvement. The MSME Subsidy in Himachal Pradesh is to support the development of entrepreneurship and industrialization, as the MSME policy assists to lessen the financial burden for these enterprises and contributes to the generation of employment in various regions of the state. By making MSME Subsidy in Himachal Pradesh available to the MSMEs, providing access to better technology as well as increasing productivity, the operation is made better and the quality as well as competitiveness of the products are also made better. The MSME Subsidy in Himachal Pradesh does the same to rural industrial development and supports exportation through the development of infrastructures. On the same note, tax reliefs and allowances under the MSME Subsidy in Himachal Pradesh help to bring down operating expenses which in return assist MSMEs to become sustainable players within the economies of Himachal Pradesh.
The Micro, Small, and Medium Enterprises can benefit from MSME subsidy in Himachal Pradesh and it supports economic growth and development of the state as well. Some of the benefits of MSME subsidy schemes are listed below:
The MSME Subsidy in Himachal Pradesh for Micro, Small, and Medium Enterprises consist of 11 subsidy programs which are:
Scheme for Promoting Establishment of Private Industrial Parks (2017)
| Parameter | Details |
|---|---|
| Interest Subsidy | Reimbursement for industrial parks/estates and Agro Parks developed by the private sector |
| Stamp Duty Exemption | 100% exemption/reimbursement to developers and 50% exemption to individual buyers (first) |
HP Industrial Investment Policy (2019)
| Parameter | Details |
|---|---|
| Subsidy for DPR Preparation | Reimbursement of 50% for: Micro enterprises: INR 20,000; Small enterprises: INR 50,000; Medium enterprises: INR 1,00,000 |
| Land Allotment Incentives | Concession of 50%, 60%, & 70% for Category A, B, & C areas respectively |
| Stamp Duty & Registration Fee Exemption | 50%, 30%, & 10% in Category A, B, & C areas |
| Change in Land Use Fee Exemption | 100% exemption in Category B and C areas |
| Interest Subvention | 3% on term loan for 3 years: Maximum INR 2 lakhs (A), 4 lakhs (B), 6 lakhs (C) |
| Transportation Assistance | Reimbursement of 50% of cost: Maximum INR 2 lakhs (A), 3 lakhs (B & C) |
| Technology & Competitiveness Assistance | Reimbursement of 50% of expenses up to INR 5 Lakhs per enterprise |
| Net SGST Reimbursement | 50%, 80%, 90% for 7 years up to 80% of Fixed Capital Investment in Category A, B, & C areas |
| Access to Finance for MSMEs | 50% reimbursement for expenses on floating Public Issue, up to INR 10 lakhs per enterprise |
| Electricity Charges | Energy charges 15% lower than approved rates for 3 years |
Creation and Upgradation of Industrial Infrastructure by Private Investor
| Parameter | Details |
|---|---|
| Capital Infrastructure Subsidy for Industrial Parks | 25%, 40%, & 50% subject to maximum INR 15 Crore, 20 Crore, & 25 Crore in Category A, B, & C areas respectively |
| Sector Specific/Theme Parks Subsidy | 40% subject to maximum INR 10 Crore, 15 Crore, & 20 Crore in Category A, B, & C areas respectively |
Industrial Development Scheme (IDS)
| Parameter | Details |
|---|---|
| Central Capital Investment Incentive | 30% of the investment in plant and machinery up to INR 5 crore |
| Central Comprehensive Insurance Incentive | 100% insurance premium on building and Plant & Machinery for 5 years |
Pradhan Mantri Kisan Sampada Yojana
| Scheme | Details |
|---|---|
| Mega Food Park | 50%-75% subsidy, maximum INR 50 crore |
| Cold Chain & Value Infrastructure | 50%-75% subsidy, maximum INR 10 crore |
| Processing & Preservative Capabilities | 50% subsidy, maximum INR 5 crore |
| Agro Processing Cluster Infrastructure | 50% subsidy, maximum INR 10 crore |
State Food Mission
| Parameter | Details |
|---|---|
| Technology Upgradation of FPIs | Rebate @ 33.33%, Maximum limit: INR 75 lakh |
| Cold Chain for Non-Horticulture Products | Rebate 50%, Maximum INR 5 Crore; Interest Subvention @ 7% for 7 years |
| Primary Processing Centres in Rural Areas | Rebate @ 75%, Maximum INR 2.5 Crore |
| Modernization of Meat Shops | Rebate @ 75%, Maximum INR 5 lakh |
| Reefer Vehicles | Rebate @ 50%, Maximum INR 50 lakh |
IT, ITeS, ESDM Policy (2019)
| Parameter | Details |
|---|---|
| DPR Preparation Subsidy | Reimbursement of 50% up to INR 1 lakh |
| Lease Rental Subsidy | IT, ITeS Enterprises: 75% for 1st year (up to INR 15 lakhs), 50% for 2nd year (up to INR 10 lakhs), 25% for 3rd-5th years (up to INR 5 lakhs) |
| Capital Subsidy | IT, ITeS Enterprises: 25% (up to INR 1 Crore); ESDM Enterprises: 50% (up to INR 2 Crore) |
| Interest Subvention | 5% on term loan for 5 years: up to INR 25 lakhs (IT, ITeS) / INR 30 lakhs (ESDM) |
| Net SGST Reimbursement | 100% of Net SGST paid for 7 years, up to 100% of Fixed Capital Investment |
| Exemption on Stamp Duty and Registration Fee | 100% exemption |
| Change in Land Use Fee Exemption | 100% exemption |
| Assistance for Patent Filing | Domestic: 75% up to INR 5 lakhs per patent (max 5); International: 100% up to INR 10 lakhs per patent (max 5) |
| Market Development Support | Reimbursement of 50% for participation in International Trade fairs (twice per enterprise, max INR 5 lakhs per fair) |
| Quality Certification Assistance | Reimbursement of 50% up to INR 7 lakhs per enterprise |
| Transportation Assistance | Reimbursement of 50% of cost incurred in Plant and Machinery up to INR 7 lakhs |
| Co-Working Space Assistance | 50% reimbursement of project cost up to INR 20 lakhs; Lease Rental Subsidy: INR 10 per square foot per month, max 25% of actual rent for 3 years |
| Infrastructure Development | Maximum 15% of total construction cost for approach road (max INR 25 lakhs); water pipeline (max INR 50 lakhs) |
Incentives for Large Enterprises in Category ‘A’ Area
| Parameter | Details |
|---|---|
| Stamp Duty & Registration Fee Charges | 50% exemption for large enterprises with minimum investment of INR 10 crores in civil works or INR 5 crores in plant and machinery |
AYUSH Policy (2019)
| Parameter | Details |
|---|---|
| Lease Rental Subsidy | 50% for 1st year (max INR 2 lakh), 40% for 2nd year (max INR 1 lakh), 25% for 3rd-5th years (max INR 0.5 lakh) |
| Capital Subsidy | 25% of Fixed Capital Investment, max limit INR 1 crore |
| Stamp Duty Rebate | 90% |
| Registration Fee Rebate | 90% |
| Change in Land Use Rebate | 80% |
| Interest Subvention | 4% on term loan max limit INR 15 lakh per annum for 3 years |
| Net SGST Reimbursement | 75% for a period of 7 years |
| Energy Audit Fee | 75% of cost of Energy Audit, max limit INR 1 Lakh |
| Electricity Tariff Concession | Energy charges 15% lower for 3 years |
| Electricity Duty Concessional | 3% for 5 years |
| Women Entrepreneurs Assistance | One-time assistance of INR 5 Lakh after 3 years of operation |
| Quality Certification Reimbursement | One-time reimbursement for international/national certification, max limit INR 5 lakh |
| Recruitment Assistance | One-time assistance of INR 10,000 per employee recruited, max limit INR 0.5 Lakh per unit |
| Private Herbal Parks Assistance | Capital Infrastructure Subsidy @ 40%, max limit for parks in Category A, B, C areas |
Additional Incentives for MSMEs
| Parameter | Details |
|---|---|
| Price Preference | Registered MSEs get 15% price preference in Central Government purchases |
| Subcontracting Support | 10% of the total value of the contract for MSMEs |
Special Economic Zone (SEZ) Policy
| Parameter | Details |
|---|---|
| Tax Incentives | 100% exemption from customs duties on imports for goods meant for development of SEZs |
| Stamp Duty and Registration Fee | Exemption |
The MSME Subsidy in Himachal Pradesh promotes growth of Micro, Small, and Medium Enterprises through financial assistance and incentives which boosts industrialization in the state, increases competitiveness and generates job opportunities, particularly in less developed regions. The MSME Subsidy in Himachal Pradesh includes various programs which promotes entrepreneurship and lowers the financial difficulties that enterprises face during the initial phase of setting up a business. The MSME Subsidy in Himachal Pradesh also offers special incentives for women entrepreneurs that are looking to start a business to support inclusivity in the economy of the state. The MSME subsidy in Himachal Pradesh helps in development of different regions, promotes exports and significantly aids in the economic growth of the state by lowering the operational costs of businesses through infrastructural development.
At Professional Utilities, we leverage our industry knowledge and expertise to help businesses navigate complex regulations, minimize risks, and optimize operations for maximum efficiency and profitability.
The MSME Subsidy in Himachal Pradesh offers benefits like expansion of business, generation of jobs, reducing business costs through tax exemptions and interest subsidies for Micro, Small and Medium Enterprises as well as for economic development of the state.
The government implemented the MSME Subsidy in Himachal Pradesh as an initiative to provide financial assistance and incentives to the Micro, Small, and Medium Enterprises aimed for development of their establishment and growth to support the economic development of the state.
The MSME Subsidy in Himachal Pradesh include various subsidy programs for financial assistance and incentives of Micro, Small and Medium Enterprises, which are:
The Micro, Small, and Medium Enterprises are eligible to apply for MSME Subsidy in Himachal Pradesh based on the category of the region their establishment falls under.
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