The Hindu : Tamil Nadu News : Government announces incentives for enterprises in Namakkal

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Sunday, Aug 10, 2008
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Tamil Nadu

Government announces incentives for enterprises in Namakkal

Staff Reporter

NAMAKKAL: The State government has announced incentives for micro, small and medium enterprises in nine backward blocks in Namakkal district.

The blocks are Elachipalayam, Erumapatti, Kabilarmalai, Kolli Hills, Mallasamudram, Mohanur, Namakiripet, Puduchatram and Vennanthur. The Chief Minister announced the incentives in its Micro, Small and Medium Industries Policy 2008, which was released in February this year, Collector U. Sagayam said in a release. The enterprises in these blocks could avail themselves of a capital subsidy of 15 percent on eligible plant and machinery subject to a maximum of Rs. 30 lakh.

An employment intensive subsidy of an additional five percent subject to a maximum of Rs. 5 lakh will be provided if at least 25 workers are employed. An additional capital subsidy of 5 per cent subject to a maximum of Rs. 2 lakh will be given to enterprises set up by women, persons belonging to scheduled caste/scheduled tribe, physically challenged and transgender entrepreneurs.

The government will provide an additional capital subsidy of 25 percent on the value of plant and machinery installed to promote cleaner and environmental friendly technologies, subject to a maximum of Rs. 3 lakh.

Besides, Low Tension Power Tariff subsidy will be made available at the flat rate of 20 per cent for the first 36 months to the enterprises in these blocks. The government will extend the above mentioned special incentives to the agro based and food processing enterprises even if they are located in other blocks in the district. The government also announced special capital subsidy to the enterprises in the following thrust sectors at the rate of 15 per cent on eligible plant and machinery subject to a maximum of Rs. 30 lakh: Electrical and electronics, leather and leather goods, auto parts and components, drugs and pharmaceuticals, solar energy equipments, gold and diamond jewellery for exports, pollution control equipment, sports goods and accessories, cost effective building material and readymade garments.

For details contact the General Manager of District Industries Centre.

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