Rs 1 crore subsidy for establishing Start-up in Madhya Pradesh

Bhopal: Many important decisions have been taken in the cabinet meeting held before the ‘Magnificent MP’ to be held in Indore.

The startup policy to promote startups has also been approved by the government. Under this, a subsidy of 1 crore rupees will be given.

Approval has been given by the Cabinet to the ‘Madhya Pradesh Startup Policy 2019. This policy will come in effect from April 01, 2020.

This will help in enhancing facilities provided to the incubators and startups. This will benefit new entrepreneurs of the state, who wish to establish their startups with new products and innovative ideas.

The cabinet has also approved the new real estate policy. Changing the old real estate policy, now the builder will have to provide only five documents instead of 27.

Along with this, the new MSME Development Policy 2019 has also been approved to encourage small and micro industries.

The cabinet approved important amendments in the Madhya Pradesh Industry Promotion Policy 2014 here today, under which the maximum limit for investment incentive was increased from 150 crore rupees to 200 crore rupees.

In a meeting of the Council of Ministers chaired by Chief Minister Kamal Nath, the amendments were approved. A provision has been made to provide 50 percent of the expenditure on waste management, noise pollution devices, health and safety equipment and water conservation measures to a maximum of one crore rupees for manufacturing units.

Now 5 documents to be accepted in place of 27: Under the Madhya Pradesh Real Estate Policy-2019, provisions have been cut down for the citizens, colonizers, investors and all. Necessary arrangement has been made to make 5 documents essential by reducing 27 types of documents.

Approval to Electric Vehicle Policy-2019: The Cabinet has granted an approval to the Madhya Pardesh Electric Vehicle Policy-2019. To strengthen urban public transport, to reduce increasing air pollution in cities and to promote non-petroleum products, provision has been made in the policy for charging, infrastructure development and exemption in the manufacturing of electric vehicles and its components. 

Approval to Bed and Breakfast Scheme: The Cabinet granted approval to the Madhya Pradesh Bed and Breakfast Establishment Scheme 2019 in the series of new schemes to create employment opportunities in the tourism sector and to facilitate tourist with accommodation facility.

The objective of the scheme is to provide domestic and foreign tourists with accommodation and snacks/meals at affordable rates, familiarizing domestic and foreign tourists with Indian culture and hospitality, facilitating citizens to earn income with additional capacity available in their houses and creating employment opportunities, developing and augmenting accommodation facilities for tourists at the local level and to expand the tourism accommodation facility through private sector in the state.

CABINET DECISIONS:

  • An independent body will also be formed to oversee the startup. The government will award one lakh to the Best Startup.
  • Along with Bhopal Indore, centers will also be opened in Jabalpur and Gwalior.
  • The 72 hectare land reserved for Smart Industrial Park in Pithampur has been taken back by the State Government. The land was reserved for other countries including Japan.
  • Electric vehicle policy is also approved. Under this, 2000 buses will be purchased in the next 5 years. These buses will run Intercity.
  • To encourage e-rickshaw sector in 5 years, a subsidy of Rs. 150 crores will be given.
  • Subsidy will also be provided for charging stations to encourage other vehicles including auto rickshaw buses.
  • Private buildings can also be used for tourism in the tourism sector to encourage employment.
  • Two-thirds of the building will be allowed to be used for tourists.
  • The minor mineral will be auctioned. The government will now auction the mines.
  • It was also decided to reduce the royalty from Rs 125 to Rs 50 to encourage a ballast making unit.
  • Under the new Mineral Policy, it will now be mandatory to install CCTV in sand mines and GPS in vehicles transporting sand to prevent illegal mining of sand.
  • Land pooling policy will also be made for development authorities. The Act will be amended to deal with the problems of illegal colonies.