Amendment to Odisha MSME Development Policy-2022, Odisha Food Processing Policy-2022

Bhubaneswar: The State Cabinet effected amendments to Odisha MSME Development Policy-2022 and Odisha Food Processing Policy-2022 in its meeting held today in the Third Floor Conference Hall of Lok Seva Bhawan in Bhubaneswar.

Amendment done to Odisha MSME Development Policy-2022:

Odisha MSME Development Policy-2022 was previously notified vide MSME department notification No-9678/MSME, Dated-28.12.2022 for the promotion of MSMEs in the State w.e.f from 30.11.2022. Hence, it became imperative to make some amendments to the policy for its smooth implementation.

The Cabinet approved the following amendments to the Policy as given below –

1. Some MSMEs are getting debarred to avail of higher financial incentives from the State Government because they have availed similar incentives from the Government of India. With this amendment, a differential amount of financial benefit can be extended to those, who have availed of similar incentives from the Government of India, if the state policy offers higher incentives.
2. Currently, there is provision of exemption of ‘Stamp duty’ and ‘Land Conversion Premium’ only. With this amendment, the provision of reimbursement will be added which will give an entrepreneur two options i.e. exemption or reimbursement to choose from. This will help those MSMEs who do not want to delay their project waiting for an exemption order to be issued. They can rather pay the stamp duty and land conversion premium upfront to expedite their project execution and seek reimbursement later.
3. Enhancement of the timeline for condonation of delay, from the present limit of 60 days to 90 days, for filing of application for incentives by MSMEs for reasons not ascribable to them.
4. To encourage environment-friendly manufacturing activities, the recycling of polythene and plastic has been removed from the ‘Negative List’.
5. Promote large investment (i.e. Rs 1 crore and above) in packaged drinking water.

Amendment done to Odisha Food Processing Policy-2022:

Odisha Food Processing Policy-2022 was earlier notified vide the MSME department notification No-8826/MSME, Dated-30.11.2022 for the promotion of Food Processing enterprises in the State. Hence, it became imperative to make some amendments to the policy for its smooth implementation.

The Cabinet approved the following amendments to the Policy as given below –

1. Some MSMEs are getting debarred to avail of higher financial incentives from the State Government because they have availed similar incentives from the Government of India. With this amendment, a differential amount of financial benefit can be extended to those, who have availed of similar incentives from the Government of India, if the state policy offers higher incentives.
2. Enhancement of the timeline for condonation of delay, from the present limit of 60 days to 90 days, for filing of application for incentives by MSMEs for reasons not ascribable to them.
3. Promote large investment (i.e. Rs 1 crore and above) in packaged drinking water.