By Our Correspondent
BHUBANESWAR: Odisha State Cabinet chaired by Chief Minister Naveen Patnaik has approved IT Policy 2022. The IT Policy will be in operation for 5 years from the date of its Gazette Notification or till it is substituted by another Policy.
1.Specific incentive for lT parks:25% of fixed capital investment will be provided as capital subsidy limited to Rs. 20 Crores. 15% of the cost of developing solar power plant subject to maximum of Rs. 25 lakhs will be reimbursed.Greenfield lT Parks shall be eligible of 100% reimbursement of stamp Duty/ Registration Fee/ Conversion Fee
2.Capital investment subsidy:30% of fixed capital investment in buildings and infrastructure, excluding the cost of land subject to a maximum of Rs.3 Cr. shall be accorded to eligible lT units.
3.lnterest Subsidy:Eligible lT units will be entitled to get an interest subsidy at5o/o per annum on term loans availed from recognized financial institutions and banks, subject to a maximum of Rs. 10 Crores per year for a period of 5 years from the date of commencement of commercial operation.
4.Power lncentive:Exemption of Electricity duty and Electrical Inspection Fee for 5 years. There will be reimbursement of electricity tariff at 30% for 3 years capped at Rs. 35 lakhs per unit.
5.lncubation space rental Subsidy:lT units with up to 40 employees will get subsidies on the rental of lncubation space for a maximum of 3 years based on their lncubation space.
Reimbursement Upto Rs. 1400 .per seat per month for Co-working space in designated IT Parks & lncubation Centers approved by Government And Rs. 1000/- per seat per-month in notified private IT Park/lT Space.
6.Lease rental Subsidy:Eligible lT units hiring buildings on rent for operating their centers will be entitled for a subsidy of 75 % of the actual rent paid or Rs. 20 per sq. ft. per month which ever is lower.An additional 25% lease rental limited to 5 lakhs per annum will be provided to women, SC/f’ -and disabled Entrepreneurs.
7.Land Subsidy: 100% exemption of stamp duty on first transaction and 50% exemption on second transaction on lease / sale agreement of land or built-up space allotted by Government. The eligible units will be entitled to get 100% reimbursement of conversion fee and registration fee for 1st transaction.
8.SGST reimbursement:Reimbursement of 100% state component of GST (SGST) for a period of 5 years in Bhubaneswar Development Authority (BDA) Area and for a period of 7 years in non -BDA Area subject to 100% of their Fixed Capital Investmerit (FCI).
9.Human Capital Investment Subsidy: Recruitment Assistance shall be provided at Rs. 10,000 per newly recruited employee at executive level who are domiciles of Odisha with a maximum limit of Rs. 10 Lakhs per unit for a period of 03 years. Additional Rs. 1000 per employing women, SC/ST and Physically Disabled employees. 100% reimbursement of the expenditure incurred towards contribution for ESI and EPF of employees of IT units who are domicile of Odisha up to Rs. 5 crore per annum for a period of 03(three) years. For investment in non -BDA area, reimbursement would be up to Rs. 7 Crore.
10.Internet Connectivity Assistance: Reimbursement at 50% of Internet bandwidth charges per annum subject to a maximum of Rs 5 lakhs per annum fora period of 2 years.
11.Biju Innovation Lab: Assistance of Rs. 20 lakhs for setting up of and maintenance of Biju Innovation Lab for 5 years will be provided.
12.Incentives for Centre of Excellence(CoE): In order to promote CoE in engineering colleges and educational institutes in Odisha, various incentives will be provided in the form of marketing assistance, Quality Certification assistance , Patent Registration assistance, Bandwidth Connectivity assistance, Interest Subsidy and investment Subsidy etc.
13.Emerging Technologies Incentive: Companies/Units investing in the area of Artificial Intelligence(AI), Cyber Security, Extended Reality(XR), Automation, Blockchain, Big Data, Cloud Computing, Internet of Things (loT), Machine Learn ing(ML), Clean -tech , Edu -tech , Agri-Tech , Health-tech and other emerging technologies shall be eligible for additional incentive.
