Maharashtra Cabinet gives nod to new rules to promote agri firms

In a bid to give further impetus to agriculture and food processing industries, the Maharashtra Cabinet chaired by Chief Minister Uddhav Thackeray on Wednesday approved the revised norms. For aspiring districts like Gadchiroli, Nandurbar, Osmanabad and Hingoli, the investment is envisaged at Rs 50 to 100 crore then projects with investment of over Rs 100crore with 200 job potential will be treated as mega projects.

For Marathwada, Vidarbha, Dhule, Ratnagiri, Sindhudurg districts if the project investment is Rs 50 crore to Rs 200 crore then projects with investment of more than Rs 200 crore with 300 job potential they will be considered as mega projects. For the rest of Maharashtra, the projects with investment of Rs 50 to Rs 250 crore then the projects with over Rs 200 crore investment will be entitled to get incentive benefits being the mega projects.

These projects will be entitled for benefits under the package scheme of incentives including relief in Goods and Services Tax.

Meanwhile, the state cabinet also cleared the Asian Development Bank funded Maharashtra Agribusiness Network Project and the agreement for the same. The government under this project plans to encourage small and marginal farmers to increase production. The project will be implemented in all districts for a period of six years (2020-2026). The project is worth $142.9 million (Rs 1,000 crore) comprising 70% loan from ADB and 30% from the state government.

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Free Press Journal