BHOPAL : The cabinet committee on investment promotion (CCIP) gave its approval to allotment of 40-acre land to Patanjali Sansthan of Yoga Guru Baba Ramdev, for the setting up of food processing unit in Peethampur of Indore district. To give concession to Baba Ramdev, changes were also made in food processing policy, in anticipation of cabinet approval. Government is giving land to the trust at subsidized rate of Rs 25 lakh per acre.
Food processing policy covers only industries with investment up to Rs 10 crore so that small and medium scale industries of the sector could be promoted. There is provision of giving 30 per cent subsidy on the investment for the unit and also grant. For the sake of Baba Ramdev, the limit of 10 crore has been removed and the policy has been made applicable to all types of food processing units.
In the unit, to be set up by Baba Ramdev, around Rs 500 crore would be invested. Ramdev’s unit was falling in the category of large scale industries and as per policy norms, concession could not be given. That led to change in policy during meeting of CCIP. There is provision of concession in Mandi tax on raw material for food processing unit for seven years. Baba Ramdev has sought this concession for ten years and it was also given approval. In CCIP meeting, SRF Limited was also given concession by relaxing tax rules. SRF has also given been concession in land and other facilities in Peethampur. Seven other proposals were also given approved.
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