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Kerala
By Our Special Correspondent
The proposal will have effect from January 2002 and the applicable tariff will be as on the date of commencement of commercial production. The existing exemption from electricity duty for five years to new industrial units will continue. All new units being set up in various industrial parks, corridors and zones, declared by the State or Central Government, will be exempted from payment of stamp duty and registration fee for the first registration. Tourism will be treated as an industry. The prevailing investment subsidy, which came into effect on November 11, 2000, will continue. Units in the priority (thrust) sectors such as rubber based industries, information technology, agro-based business, including food processing, readymade garments, ayurveda medicines, mining, marine products, light engineering, biotechnology and 100 per cent export-oriented units will be eligible for a State investment subsidy of 15 per cent of the fixed capital investment, subject to a maximum of 15 lakhs. Non-priority sectors will be eligible for 10 per cent subsidy. Units being set up in the backward districts of Idukki and Wayanad and industrial areas such as growth centres and industrial parks will enjoy an enhanced rate of subsidy — 25 per cent subject to a maximum of Rs. 25 lakhs for priority sector and 10 per cent subject to maximum of Rs. 10 lakhs for non-priority sector. Investments in pollution control devices shall be eligible for an additional 15 per cent subsidy, subject to separate ceiling of Rs. 5 lakhs. The existing units undertaking expansion, diversification and modernisation shall also be eligible for subsidy at these rates. The Government will ensure prompt disbursement of subsidy in future and clear existing arrears. Units launching research and development efforts with precisely identified goals and time-bound programmes will be given incentives, the details of which will be worked out jointly with the concerned institution. In case of projects with capital investment exceeding Rs. 50 crores, the Government will consider a special package of incentives, except tax-based incentives, on a case-to-case basis. It will consider a special package of incentives for channelising foreign direct investment and for large infrastructure projects. Infrastructure projects in private sector will also be eligible for the set of incentives, if any, that are offered to Government owned infrastructure projects. Units being set up in the industrial parks of the Government will enjoy the option to set off eligible incentives against the cost of land. The existing concessions for preparation of market and feasibility studies will continue. The existing price preference of 15 per cent for the products of SSI units located in the State and 10 per cent for products of medium and large industries located in the State being given for all departmental purchase, purchases by State public sector undertakings and statutory corporations will continue. The investment by the Kerala Venture Capital Fund in new high-risk projects in growth areas will be allowed to go up to 40 per cent of the paid up capital with a limit of Rs. 2 crores within five years. The activities of the State Export Promotion Council will be revived and revitalised. A new export policy and mineral policy will be announced soon. A separate policy on Special Economic Zones is also on the anvil. Grants will be provided to industrial units for quality certification by approved institutions at 50 per cent of the expenditure subject to a maximum of Rs. 2 lakhs a unit. The Government will also help entrepreneurs and public sector units (PSUs) in obtaining patents and intellectual property rights (IPR). Financial assistance will be provided for procuring patent or IPR. The Government will constitute a cell in the KSEDC to assist the entrepreneurs in this respect.
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