Richly endowed with an enviable agricultural and forest cover and rich deposits of minerals and metals. While these natural resources remain the key drivers of growth, real estate, banking & finance and tourism can collectively create a strong economic platform for Chhattisgarh.
1. Interest Subsidy: Eligible MSME will be given subsidy on term loan.
2. Fixed capital investment Subsidy – Eligible micro, small, medium, large industries & mega projects & ultra mega projects shall be given subsidy for fixed capital investment
3. Electricity Duty Exemption – eligible new industries shall be exempted from the payment of electricity charges up to a period of 5-12 years
4. Exemption from stamp duty shall be given to eligible entrepreneurs.
5. Exemption/concession in land premium on land allotment in industrial areas of Industry Department/CSIDC up to 50%
6. Technical Patent Subsidy – The eligible micro, small & medium industries (general & priority industry) newly established in the state shall be reimbursed 50% of the amount spent in obtaining patent up to a maximum limit of Rs.5 lakhs. The amount for Industries established by the scheduled caste/tribe category will be 60% of the amount spent up to a maximum limit of Rs. 6 lakhs.
7. Mandi Fee Reimbursement Subsidy – In the state, the market fee shall be reimbursed by 50% up to a maximum limit of Rs. 5 Lakhs per annum on purchase of required raw material from krishi upaj mandi samiti for industry by the micro, small & medium industries related with food processing (only poha mill, oil mill and oil extraction plant). This exemption shall be for a period of 5 years from the date of commencement of commercial production.
Mukhyamantri Yuva Swrojgar Yojna: Govt provides bank guarantee for loans of up to Rs. 25 lakh to young entrepreneurs (age between 18-35 yrs). Moreover, the state government would also provide a five per cent loan subsidy.
Entrepreneurship Development Cell at Raipur Institute of Technology (RITEE): Promotes Entrepreneurial culture to foster growth of innovation and Entrepreneurship amongst the faculty and students and provide employment in innovative area.
Startups Association Of India: It aims to create and promote Entrepreneurship in India with Special Focus on rural entrepreneurship and Small business.
In Summary – Chhatisgarh and Entrepreneurship:
Chhattisgarh’s aim of achieving sustainable economic growth and creating job opportunities for educated youth is heavily dependent on its ability to provide a platform for entrepreneurial venture to create and innovate, while harnessing the natural assets of the state. The rapidity with which the youth takes on this task would determine the speed at which the state is able to improve its overall quality of life, promote sustainable and inclusive growth and enhance global competitiveness.
To know more about how Chhattisgarh is building a vibrant entrepreneurship ecosystem, click here.
Data Sources for Chhatisgarh:
Note: Policy details provided here are for the purpose of information only. Please verify the latest information from the relevant Government or MSME website of the state. Other data and information is curated from various websites and public documents. In case you have any corrections, additions, or suggestions, please share the same with us, and we’ll be happy to incorporate them here.