"Infrastructure Development Subsidy (For IT/ITES)" under "Motivation of Entrepreneurs to Start Industries and Fiscal Assistance to Capital Intensive Industries"

DETAILS "Infrastructure Development Subsidy (For IT/ITES)" under "Motivation of Entrepreneurs to Start Industries and Fiscal Assistance to Capital Intensive Industries" is a scheme by the Industries and Commerce Department, Union Territory of Puducherry. The scheme came into force with effect from 1st April 2017 and is in operation in the whole of the UT of Puducherry. Through this scheme, 30% Subsidy subject to a maximum of ₹1,00,00,000/- will be granted on the investment made on building with a minimum extent of 50,000 sq.ft. constructed area, by the infrastructure developers/industries for leasing out to Information Technology industries or for own industrial use. The applications are accepted offline in the prescribed form available on the Official Website of the Department. BENEFITS 30% subsidy, subject to a maximum of ₹1,00,00,000/-. *The building value will be assessed by the PIPDIC/Public Works Department. Number of Installments The infrastructure subsidy shall be disbursed in annual installment not exceeding ₹25,00,000/- per annum till completion of the total eligible subsidy. Mode of Disbursement The subsidy amount shall be disbursed through the financial institutions/banks only, if the unit is financed by them, towards the adjustment against the loan availed by the entrepreneurs or for the creation of additional fixed assets or for the working capital purposes. In case of self-financed units, the subsidy shall be disbursed directly to the entrepreneur/unit. *The financial institution shall mean and include PIPDIC or any other Government Corporation, Scheduled Banks including Co-operative Banks. ELIGIBILITY The investment should have been made on building with a minimum extent of 50,000 sq.ft. constructed area. The investment should have been made by the infrastructure developers/industries. The investment should have been made for leasing out to IT industries or for own industrial use (for manufacturer of computer systems, Software/ITES, BPO, KPO). The unit should provide at least 60% of employment to the people of the Union territory of Puducherry of the total employment strength of the industrial units. This 60% of the local employment will have to be maintained by the industrial unit during the period specified in the Affidavit. The industrial unit shall not transfer or dispose of the fixed asset including plant and machinery in any manner till the completion of 5 years from the date of submitting the application/disbursement of the subsidy whichever is later. The additional investments made by the new/existing industrial units after availing the first claim are also eligible for subsidy up to the ceiling limit. *The date of commencement as admitted by the entrepreneurs shall be reckoned after due verification by the officials of the Industries Department. *The units which have commenced commercial production on or after 1-4-2017 are considered new industries. *The units which have commenced production before 1-4-2017 are considered as existing units. Special Cases If, two or more industrial undertakings are set up by the same person as proprietor, common partners, common Board of Directors/shareholders, such units are eligible for subsidy as separate entity provided the location of the unit are different and licenses /clearances/ registrations are obtained separately for the enterprises. Exclusions Buildings which have already been occupied and used, subsequently purchased by the entrepreneurs for setting up of the industry are not eligible for subsidy.