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Jaipur : The state government has announced a new Rajasthan Investment Promotion scheme (RIPS) 2010 in the form of a package of financial incentives and subsidies. For the first time investment and employment generation subsidy has been introduced in the new scheme.
The new RIPS 2010 provides better benefits to investors compared to the existing one. The new scheme gives concession for setting up of new enterprise, enterprise going for expansion, modernisation and diversification, and projects set up for social good.
According to finance department officials, the new scheme gives more emphasis on employment generation, uplift of women, SC/ST and people with disability.
The government has offered a subsidy of Rs 10,000 per annum for each employee, while this subsidy would be Rs 12,000 for employees belonging to women, SC/ST and people with disability.
Similarly, for women, SC/ST and entrepreneurs with disability an additional 10% subsidy will be given on taxes as against 50% to the general category. Again 50% exemption from land tax has been given for the first time in the state. Subsidy and exemption for micro, small and medium enterprise in the notified area has been extended to 10 years compared to seven years for other categories under the new scheme.
The policy states all kinds of investment are eligible for subsidy, including self-finance, to motivate investors. The scheme also simplifies the procedure for grant and disbursement of subsidy and provides transparency in the system by introducing on-line disbursement of subsidy.
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