To provide more advantages to agro-based food processing units, the Maharashtra government recently in a cabinet meeting decided to loosen up the eligibility criterion that will assist more enterprises with to be considered as large and mega projects such that they can now get benefits of Industrial Promotion Subsidy Scheme (IPSS).

In addition, the state categorized the norms based on the areas where the funding and investment is to be done. The processing units putting resources and efforts in districts like Gadchiroli, Nandurbar, Hingoli and Osmanabad would be provided the maximum assistance, as per the government officials.

For example, if an investor is making a venture in the range of Rs 50 crore to Rs 100 crore in these locales, the project would be eligible for all the advantages bestowed to a large project under the IPSS.

An official from the industries department declared-“If a project sees an investment of over Rs100 crore or creates 200 jobs, it will be considered as a mega project.”
The official also announced-“The investment should be in the range of Rs 50 to Rs 200 crore for the units in Marathwada and Vidarbha regions and in districts such as Dhule, Sindhudurg and Ratnagiri to qualify as a large project. A project will be considered as a mega project in the above areas and also get all the determined benefits, if the investment is more than Rs 200 crore or creates about 300 jobs.”

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