Subsidy & Incentive Scheme (Under Maharashtra Industrial Policy)
Overview
The Subsidy & Incentive Scheme under the Maharashtra Industrial Policy is a strategic initiative by the Government of Maharashtra aimed at fostering industrial growth, promoting investment, and supporting regional development within the state. This scheme provides targeted financial incentives, subsidies, and fiscal assistance to Micro, Small, and Medium Enterprises (MSMEs) operating in Maharashtra, enabling them to overcome financial barriers and accelerate their growth.
By offering incentives such as stamp duty exemptions, power tariff subsidies, and interest rate reductions, the scheme helps entrepreneurs and business owners manage the high operational costs that often come with setting up or expanding a business. The initiative is designed not only to support business owners but also to spur job creation, enhance investment in industrial zones, and contribute to the regional development of less industrialized areas, including rural, tribal, and backward regions.
The scheme provides a specific focus on incentivizing women-led enterprises, SC/ST entrepreneurs, and businesses located in no-industry districts or aspirational districts, contributing to the government’s inclusive economic growth strategy.
Summary
| Component | Features & Benefits |
|---|---|
|
Stamp Duty Exemptions |
Full exemption from stamp duty on land and property purchases, reducing the financial burden of setting up new businesses or expanding existing ones. |
|
Power Tariff Subsidy |
Subsidy on electricity tariffs, with ₹1/- per unit subsidy available for MSMEs in Vidarbha, Marathwada, North Maharashtra, and Raigad, Ratnagiri, and Sindhudurg in the Konkan Region for 3 years from the start of commercial production. |
|
Interest Rate Subsidy |
Interest subsidy on loans for MSMEs investing in new fixed assets. Eligible businesses can receive subsidies on the interest paid to public financial institutions and banks, making financing more accessible. |
|
Investment Promotion |
Incentives for investments in industrial zones, with additional support for businesses operating in Group C, D, and D+ areas, no-industry districts, aspirational districts, and Naxalism-affected areas. |
|
Support for SC/ST and Women Entrepreneurs |
Special financial incentives for women entrepreneurs and SC/ST-owned businesses to encourage inclusivity in industrial growth. |
|
Mandi Fee Exemption |
Exemption from mandi fees for eligible agricultural and agro-based MSMEs, easing the cost of doing business in these sectors. |
Eligibility Criteria
Eligible MSMEs: The scheme is open to new and expanding MSMEs in the manufacturing and services sectors within Maharashtra.
Targeted Regions: Focused on MSMEs in underdeveloped industrial zones, rural areas, tribal regions, and backward districts, including no-industry districts and aspirational districts.
Women and SC/ST Entrepreneurs: Special provisions exist for women-led businesses and SC/ST entrepreneurs, offering additional financial support and incentives.
How to Apply
Interested businesses can apply for the Subsidy & Incentive Scheme through the Maitri Portal of the Maharashtra Industrial Development Corporation (MIDC), which provides a seamless application process. Detailed guidelines, eligibility criteria, and necessary documentation requirements can be found on the Maitri website.
Relevant Links