GOVERNMENT
OF PONDICHERRY
ABSTRACT
Department
of Industrial Development (Ind & Com).- Incentives for promotion of
Thrust Area industries - -Amendment-Orders -issued.
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DEPARTMENT OF INDUSTRIAL DEVELOPMENT ( INDUSTRIES & COMMERCE)
G.O. Ms.No.8/2004-Ind
Pondicherry, the 2.8.2004
READ: 1. G.O.Ms No. 4/2003-Ind dated 3.4.2003 of the Department of Industrial
Development (Industries and Commerce), Pondicherry.
2. I.D. No.J-10/2/Ind/T-1/2004 dated 26-02-2004 from the Director of Industries & Commerce, Pondicherry
ORDER:-
The
following Notification shall be published in the next issue of the official
Gazette:
N O T I F I C A T I O N
WHEREAS to achieve the object of the schemes called incentives for promotion of Thrust Area Industries under "Fiscal Assistance to New Industries" G.O first read above was issued by the Department of Industrial Development (Industries & Commerce), Pondicherry
AND WHEREAS the recommendations of the Department of Industries for encouraging the employment of local youth in industries as per the existing policy and increasing the competitiveness of Pondicherry as an investment destination have been considered and the same have been accepted by the Government.
NOW, THEREFORE, the Lieutenant Governor, Pondicherry hereby makes the following amendments/ additions to the G.O referred herein above, as detailed below:
AMENDMENT/ADDITIONS
1. The following is inserted as 4-A, after the para 4 of the G.O
"The incentives of this G.O can be granted only if the unit fulfills the criterion laid down during the permanent registration of Industrial units providing at least 60% of the employment to the local youth of Pondicherry Union Territory."
2. The following are added after para 6 and numbered as 7 and 8
7 Interest subsidy:-
i) The industrial units which have availed loan from financial institution towards creation of fixed assets and for working capital, an interest incentive to an extent of 25% of the annual interest amount paid, for five years shall be admissible from the date of commencement of commercial production.
ii) The maximum amount of subsidy to each industry shall not exceed Rs. 75,000/- in any financial year.
iii) The financial institution shall mean and include PIPDIC, or any other Government Corporation, Scheduled Banks including Co-operative Banks, Government sponsored Co-operative Societies, Finance or Nidhi companies approved by the Reserve Bank of India.
iv) The claim should be accompanied by No Due Certificate of interest.
v)
The incentive will be paid to the financial institution.
8. Employment Incentive
i) " Wage / Employment subsidy of 20% Wage/Salary in case of such workers who are covered under Provident Fund (PF) will be granted. The new units which commence the production after the issue amendment would alone eligible for this incentive for a period of 5 years. This would be limited by the minimum wages prescribed by Government from time to time. Further the maximum amount which can be given as subsidy would be Rs 5 lakhs per annum per unit under this provision;
ii) Wage/ Employment subsidy would be available only if the units provide direct employment to atleast 10 persons. Wage/ Employment subsidy will be considered after verification of the previous years records by the Directorate of Industries
/BY ORDER/
(P.M.EMMANUEL)
Under Secretary to Govt.(Ind & Com)
To
1.
The Director of Industries & Commerce, Pondicherry
3. The Director of Printing & stationery
With
a request to publish
the notification in the
next issue Official Gazette
and supply 50 copies to
this department
Copy to:
1.
All Secretaries and Head of Department/Secretary to Lt.Governor/
Secretary to Hon'ble Chief Minister/Private Secretary to Speaker/
Private Secretary to all Ministers/Private Secretary to Deputy Speaker
2. The Finance Department, Pondicherry.
3. The Director of Accounts & Treasuries, Pondicherry.
4. The Office of the Accountant General (Audit)-I, Tamil Nadu.
5. The Office of the Accountant General (Audit)-I, Pondicherry.
6. Central Record Branch, Pondicherry.
7. G.O. Files/Spare.
