Updated on December 19, 2024 03:50:39 PM
The MSME Subsidy in Odisha provides financial assistance to promote the Micro, Small, and Medium Enterprise under the MSME Policy 2020. Businesses employ people and assist in overall beneficial growth and development of the industrial sector of the state. The MSME Subsidy in Odisha as the financial assistance, incentives and loans for a firm to boost technology, skill and infrastructure.
Several of the state’s entrepreneurs take benefit of the MSME Subsidy in Odisha which has the primary objective of enhancing the condition in the state for the development of new MSME related to different types of sectors. The MSME Subsidy in Odisha was designed to provide a measure of affirmative rates of subsidization in efforts for innovation, competitiveness and productivity drive within the Micro, Small and Medium Enterprises business environment.
The MSME Subsidy in Odisha is useful for the formation of new ventures and industrialization as well as for the redemption of business cost and employment in the state. The MSME Subsidy in Odisha assists micro, small and medium enterprises in acquiring capital and superior technology to improve productivity, expanding the market and improving the quality or competitiveness of its products. For the development of industries with specialization to Point of Sale areas in Odisha and to encourage exports in the development facility, the government and financial institutions offered the MSME policy. Some other benefits of the MSME Subsidy in Odisha include tax incentive, and interest; the financial stead enhances; hence, MSMEs are good actors of the economic fate of Odisha.
The objectives of the MSME Subsidy in Odisha has various incentives for the Micro, Small, and Medium Enterprises for the development of economy in the state. Some of the benefits of MSME Subsidy in Odisha are listed below:
The MSME Subsidy in Odisha provides financial assistance and incentives to Micro, Small, and Medium Enterprises under 12 categories which are listed below:
Subsidy for MSME Sustainable Certification Zero Defect Zero Effect (ZED)
| ZED Bronze | Subsidy Percentage | Subsidy Ceiling |
|---|---|---|
| ZED Bronze | 50% on expenses incurred for Plant & Machinery/testing equipment | Rs 2 lakh |
| ZED Silver | Rs 3 lakh | |
| ZED Gold | Rs 5 lakh | |
| Additional Subsidy | 80% on the balance cost after Government of India support | Not Specified |
Capital Investment Subsidy (CIS)
| Category | Enterprise Type | Subsidy Percentage | Subsidy Ceiling |
|---|---|---|---|
| Enterprises in Industrially Backward Districts | Additional 5% | Rs 20 lakh | |
| New Enterprises (General) | 25% on capital investment in Plant & Machinery | Rs 2 crore | |
| SC/ST/Women Entrepreneurs | 30% on capital investment in Plant & Machinery | Rs 2.50 crore | |
| Anchor Enterprises | Rs 4 crore | ||
| E-Vehicle Manufacturing | Rs 3 crore |
Interest Subsidy
| Details | Subsidy Rate | Ceiling |
|---|---|---|
| New enterprises investing up to Rs 50 crore | 50% reimbursement of interest on term loans for 5 years | Rs 1 crore |
Electricity Duty Exemption
| Details | Exemption Duration | Contract Demand Limit |
|---|---|---|
| New enterprises investing up to Rs 50 crore | 5 years | Up to 750 WA |
SGST Reimbursement
| Enterprise Type | Reimbursement Percentage | Duration |
|---|---|---|
| Enterprises investing up to Rs 50 crore | 75% of net SGST paid | 3 years |
| New pioneer enterprises | 100% of net SGST paid | 5 years |
Subsidy for Quality Certification
| Details | Information |
|---|---|
| Subsidy Percentage | 100% |
| Subsidy Ceiling | Rs 5 lakh |
| Quality certifications from recognized institutions | Yes |
Employment Cost Subsidy
| Enterprise Type | Reimbursement Duration | Reimbursement Type |
|---|---|---|
| Enterprises investing up to Rs 50 crore | 5 years | 100% ESI/EPF reimbursement for state domicile workers |
| Focus sector enterprises | 7 years | 100% ESI/EPF reimbursement for state domicile workers |
Technology Purchase Subsidy
| Details | Subsidy Percentage | Subsidy Ceiling |
|---|---|---|
| Technology purchased from NRDC or government research centers | 50% | Rs 20 lakh |
Audit Cost Reimbursement for Water Conservation
| Details | Reimbursement Percentage | Ceiling |
|---|---|---|
| Water audit cost by approved agencies | 75% | Rs 1 lakh |
Audit Cost Reimbursement for Energy Conservation
| Details | Reimbursement Percentage | Ceiling |
|---|---|---|
| Water audit cost by approved agencies | 75% | Rs 1 lakh |
. Subsidy on Patent Registration
| Description | Subsidy Percentage | Subsidy Ceiling | Patent and Intellectual Property Right Registration |
|---|---|---|---|
| Subsidy for specific schemes | 100% | Rs 5 lakh | Eligible for IP registration support |
TradeMark Assistance
| Description | Subsidy Percentage | Subsidy Ceiling | Expenditure Incurred in Obtaining Trademark |
|---|---|---|---|
| 100% | 100% | Rs 3 lakh | Rs 3 lakh |
The MSME Subsidy in Odisha can also be considered for its efficiency in developing the MSMEs Sector in the state. MSME Subsidy in Odisha is used to provide funds and subsidies to the Micro, Small and Medium Enterprises through subsidy regime. While implementing, the objective of the MSME Subsidy in Odisha is to reduce some of the hassles to fund the business. With the help of the MSME Subsidy in Odisha, job domiciles can be provided and development of the economy of the state can occur. The MSME Subsidy in Odisha helps to improve the growth and productivity of the MSMEs in the state by promoting development of industrial sectors in the relatively non industrialized areas of the region.
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 Odisha enhances the state’s economy and provides employment for residents to increase the competitiveness at domestic or international level.
The MSME Subsidy in Odisha contains few incentives towards the Micro, Small and Medium Enterprises which includes limits in Financial Assistance for Business Expansion, Employment Generation, Reduction in Business Expenditure and Interest Subsidy.
The available MSME Subsidy in Odisha that can be redeemed by the Micro, Small, and Medium Enterprises fall under 12 categories which are:
The MSME Subsidy in Odisha offers incentives for development of Micro, Small and Medium Enterprises units with an overall financial assistance to gain better employment opportunities in the process of business.
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