Yogi govt will offer a variety of facilities and subsidies to investors setting up the food processing industry in UP
Lucknow | In an attempt to boost the food processing sector in the state, Chief Minister Yogi Adityanath has launched Uttar Pradesh Food Processing Industry Policy 2023. Under this scheme, all kinds of subsidies and other facilities are being given for setting up the food processing industry. The Uttar Pradesh government led by Yogi Adityanath is providing additional facilities to encourage investors which include subsidy, interest subvention, and transport subsidy. It has been divided into four parts, first is the grant of projects, second is interest subvention, the third is transport grant and the fourth is major incentives. Under the New Food Processing Policy-2023, the Yogi government is giving a grant of 35 percent of the project cost (on plant, machinery and technical civil work) or a maximum of Rs 5 crores on the establishment of new food processing units. Apart from this, 35 percent of the project cost or a maximum of Rs 1 crore is being given for expansion, modernization and upgradation of units. On the other hand, for Integrated Cold Chain and Value Addition Infrastructure (primary equipment, plant machinery, and 50 frozen irradiation facilities), 35 percent of the project cost, or a maximum grant of Rs 10 crore, is being given. Similarly, 35 percent of the project cost of a minimum investment of Rs 25 crores (5 units) or a maximum of Rs 10 crores by the agro-processing group, a grant of 35 percent of the project cost or a maximum of Rs 5 crores for the development of a priority processing center at the farm gate, collection center, cold storage, dry warehouse, mobile pre-cooling unit, reefer trucks, IQF facility distribution centers, and retail outlets under backward and forward linkage. Not only this, a maximum of Rs 5 crores of the project cost is being given for agricultural promotion chain development study, 50 percent of the project cost or a maximum of Rs 50 lakhs is being given on the construction of decentralized procurement storage and processing The Yogi government is providing interest subsidies to investors to attract investment in the food processing industry. Interest subvention of Rs 50 lakh is being given for a maximum period of five years on the loan of Mobile Pre Cooling Unit Refer Van. 25 percent transport subsidy is given on the cost of transport from the food processing unit to the exporting country. Under major incentives, exemption of 2 percent fee on the declaration of non-agricultural use, 25 percent on circle rate on exchange of government land, 50 percent on change fee on land use conversion, 75 percent on external development fee. Percentage discount, reimbursement of stamp duty for land purchase, market fee on raw material purchased for processing in the state, exemption in tax, exemption in market fee, and cess on agricultural produce purchased directly from farmers by processing units. Investors do not have to visit the department, rather can take advantage of these facilities by applying online at ‘http://niveshmitra.up.nic.in’.
