With a view to properly carry out the Policy Resolutions the following incentives will be made available to eligible industrial units.
Reimbursement of the cost of the Project Report
Reimbursement of the cost of preparation of Project Reports prepared by agencies approved by the State Government will be made after effective steps are taken by the entrepreneurs
as follows:
90 p.c. in case of tiny units subject to a ceiling of Rs.5000 per unit.
75 p.c. in case of small scale and ancillary units subject to a ceiling limit of Rs. 25,000/- per unit.
50 p.c. in case of medium and large units subject to a ceiling limit of Rs. 50,000/- per
unit.
Land Subsidy
The State Government will endeavour to allot land to new industrial units excepting Village and Cottage Industries. The State Government shall give special consideration for the allotment of Government land for industrial purpose.
The Developed land in the Industrial Growth Centres will be alloted to the eligible units in accordance with the procedures prescribed by the implementing authority and 25 p.c. of the cost of the land will be subsidised by the State Government for Small Scale Units and the remaining amount will be recovered in 15 equal annual instalment. The allotted land will be permitted to be utilised by the units for mortgage purposes for raising loan from banks and financial Institutions.
In regards to undeveloped land allotted to an entrepreneurs within the declared industrial area the cost of the land will be recovered in 15 equal annual instalments from
tiny, small, ancillary, medium or large industries. As for small and tiny units the State Government will reimburse 25 p.c. of the actual amount spent by them in development of such allotted land.
The allotment of land above mentioned to a non-mizo/non- tribal entrepreneur will be subject to the relevant provisions of laws, rules and regulations dealing with the subject.
Factory Rent Subsidy to Small Scale Industries Units
Built up factory sheds in the Industrial Estates will be allotted to entrepreneurs of the Small Scale and tiny sectors on monthly rent basis and the State Government will reimburse
50 p.c. of the duly assessed rent for the period of 5 years from the date of commercial production.
Subsidy on Manpower Development
The Industrial Units which are already gone into production sending their workers outside the State for managerial and technical training for upgradation of their skills to a Government recognized institution or registered/licenced industrial unit shall be given subsidy provided that they give undertaking to the effect that all such trained workers will continue to be employed by them after their training 50 p.c. of the actual expenditure with upper ceiling limit of Rs.3000 per trainee will be reimbursed subject to Rs. 25,000 per unit for these years.
Interest Subsidy
The entrepreneurs will be given 4 p.c. subsidy of interest charge by financial institutions for term and working capital loans for a period of 5 years from the date of commissioning of their units subject to timely repayment of the loans. The subsidy amount will be reimbursed to the entrepreneur on production of the relevant documents showing repayment of the loan/interest amounts.
Power Subsidy
Expenditure on power consumption by small scale units to the extent of 60 p.c. 50 p.c. for medium scale and 30 p.c. to large scale units will be reimbursed by the State Government for a period of 5 years from the date of commercial production. This subsidy will be allowed only for actual consumption of power in manufacturing processes and will not be allowed for residential purposes.
Subsidy on drawal of Power Lines
50 p.c. of the cost incurred on drawal of electric power line from the main line to the factory shed will be subsidised subject to a ceiling Rs. 50,000 for each industrial unit.
Subsidy on Power Generating Set
50 p.c. of the cost of generating set actually purchased by the industrial unit will be subsidised subject to a maximum of Rs.3.00 Lakhs for purchase and installation of captive generating sets. The units will also not be liable to pay electricity duties on power generated by captive generating set and used for production purposes in such units.
State Transport Subsidy on Plant and Machineries
50 p.c. of the actual cost of transportation of industrial plant and machines from the place of purchase up to the location of the unit will be reimbursed by the State Government.
The basis of calculation of the amount to be reimbursed will be the official document proving the cost of transportation through rail, transport agency etc.
Price Preference
While making purchase by the Government departments and Government controlled organisations, products manufactured by the local industrial units registered with the DIC, DGTD or Directorate of Industries. KVI Units shall be given preference in accordance with the provisions of Mizoram Preferential Stores Purchase Rules, 1986 and as amended from time to time.
Local registered industrial units while submitting quotations for their products to Government departments and Government control organisations shall be exempted from earnest money/security deposits.
Exemption from Payment of Sales Tax, Stamp Duty and Registration Fee
Sales tax on the sale of goods manufactured by any industrial units within Mizoram will be exempted from a period of 5 years from the date of commercial production.
Small Scale and tiny industries will be exempted from payment of stamp duty and registration charges for securing loans from the financial institutions and mortgaging of fixed assets for the purpose.
Rehabilitation of Viable Sick Industrial Unit
All the incentives under the Incentive Scheme of 1989 declared for the new industrial units will also be available for revival of viable sick industrial units specified as such by the State Government.
Equity Participation in the Assisted Sector
In deserving cases depending upon the viability of the project, where promoters find it difficult to arrange their share capital, subject to clearance by a screening Committee,
the State Government through its Corporations may participate in equity contribution upto 10 p.c. of the issued capital subject to ceiling of Rs.10 Lakhs where the project cost does not exceed Rs. 2 Crores on the basis of buy back arrangement.
Hotel Incentive
Hotels will be treated as an industry and will be eligible for the incentives declared under the Incentive Scheme of 1989 and also power subsidy scheme applicable to a regular manufacturing industry will also be applicable to hotel industry provided that only such hotel units as financed by State financing agencies will be eligible for these incentives.
Incentives for Cinema Halls and Production of Films
Construction of Cinema Halls and Production of films will be treated as industries and all State Government incentives under the Incentive Scheme of 1989 will be made applicable to
cinema halls and production of films provided that no exemption will be given to cinema houses in entertainment taxes.
All the above named incentives are over and above various other incentives offered by the Central Government for the industrially backward area category `A' to which the State of Mizoram at present belongs.
