UP Govt. Offers Subsidies for Setting Up Food Processing Industry
The Uttar Pradesh government, under the leadership of Chief Minister Yogi Adityanath, has launched the UP Food Processing Industry Policy-23 to promote the food processing industry in the state at a global level. The government is providing subsidies for setting up food processing industries, along with other facilities, to encourage investors. This policy is divided into four parts, including grant of projects and interest subvention, among others.
Investors can apply online to take advantage of these facilities, without needing to visit the department. Under this policy, the state government is giving a 35% grant of the project cost or a maximum of Rs. 5 crores for establishing new food processing units. Expansion, modernization, and upgradation of units are also eligible for a grant of 35% of the project cost or a maximum of Rs. 1 crore.
The government is providing a 35% grant of the project cost, or a maximum of Rs. 10 crore, for integrated cold chain and value addition infrastructure. In addition, a grant of 35% of the project cost of minimum investment of Rs. 25 crore (5 units), or a maximum grant of Rs. 10 crore, is being given for the agricultural processing group.
Other facilities include interest subvention on loans of mobile pre-cooling unit reefer van for a maximum period of 5 years at 50 lakhs, transport grants, and a rebate of 2% on the declaration of non-agricultural use under major incentive features. The government is also offering a 25% discount on the circle rate on the exchange of government land, along with a 50% exemption in the conversion fee for land use conversion.
Furthermore, the government is providing a 75% fee on external development fee, mandi fee and cess fee, among others, on agricultural produce purchased directly from farmers by processing units. To take advantage of these concessions, investors can apply through the investment portal.
English Summary: The Uttar Pradesh government has launched the UP Food Processing Industry Policy-23 to promote the food processing industry in the state at a global level. The government is providing subsidies for setting up food processing industries to encourage investors. The state government has divided the policy into four parts, including grant of projects and interest subvention, among others. Investors can apply online to avail these facilities.
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