Odisha Cabinet Approves MSME Development Policy 2022

Bhubaneswar: To accelerate the growth of enterprises in MSME sector, Odisha Cabinet led by Chief Minister Naveen Patnaik approved MSME Development Policy 2022.

The policy announces progressive measures to incentivise growth of MSMEs in promoting employment and contribution of the sector to State’s GDP.

The capital investment subsidy to new Micro, Small Enterprises has been extended to New Micro, Small and Existing Micro & Small Enterprises undertaking Expansion Modernisation and Diversification (E/M/D) at the rate 25% of capital investment made in plant and machineries and the subsidy limit has been enhanced from Rs. 1 crore to upper limit of Rs. 2 crore.

The State Cabinet also approved land allotment to BSNL to boost 4G connectivity in 1,792 uncovered villages across the state. 2,000 sq. ft. of land allotted at 1,687 locations for 30 years at Rs 1 per site per annum without any premium and incidental fees.

For the development of agriculture, the State Cabinet has approved two schemes under which the government will spend more than Rs 1,500 crore to boost agricultural activities in the state.

The Cabinet has also approved a provision of Rs 1,142.24 crore for four years from 2022-23 to 2025-26 for the implementation of the state scheme – Development of Potato, Vegetable and Spices – with the involvement of women SHGs and farmer producer organisations (FPOs).

The scheme is being introduced with the objective to provide financial assistance to the farmers for the cultivation of potato, onions, hybrid vegetables, and spices in order to make the state self-sufficient in the production of five vegetables (potato, onion, tomato, cauliflower & cabbage) along with an increase in area and production under spices.

Similarly, the State Government has approved Rs 367.19 crore for five years from 2022-23 to 2026-27 for the implementation of another state sector scheme – ‘Empowerment of Women in Agriculture, Promotion of Entrepreneurship for Women SHG’.
The Cabinet has also approved the principles for one-time settlement (OTS) of arrear water rate dues of industries and commercial establishments.

Further, the Cabinet has approved a tender of Rs 344.67 crore and operation and maintenance costs for five years amounting to Rs 3.42 crore for construction of in-stream storage structures across river Mahanadi at Choudhury Gada in Jagatsinghpur district and across river Paika at Tikhiri in Kendrapara district. The work is planned to be completed in 36 months.

Another tender worth Rs 357.92 crore has also been approved by the Cabinet for execution of mega piped water supply projects to provide safe drinking water to the people of Angul district.