Odisha cabinet approves amendment in Food Processing Policy to simplify fiscal incentives

Bhubaneswar, Aug 1 (UNI) The Cabinet today approved an amendment in Odisha Food Processing Policy’2016 to simplify the process of administration/approval of Fiscal Incentive under Policy.

The amendment was made for smooth implementation of Odisha Food Processing Policy’ 2016 .

Previously, there was three committees i.e. SDLC under chairmanship of Director of Industries, Odisha (up to Rs.25 lakh), Sub-SLEC under chairmanship of Secretary, MSME Department (25 lakh to 1 crore) and SLEC under chairmanship of Chief Secretary (more than Rs. 1 crore) for according approval to the Fiscal Incentive claims of MSMEs under Odisha Food Processing Policy’ 2016.

However with this amendment, now the committees will be DLC under chairmanship of Collector & District Magistrate of respective District (investment in Plant & Machinery up to Rs. 1 crore), SDLC under chairmanship of Director of Industries, Odisha (investment in Plant & Machinery more than Rs. 1 crore and up to Rs. 10 crores) and SLC under chairmanship of Secretary, MSME Department (investment in Plant & Machinery more than Rs. 10 crores and up to Rs. 50 crores).

This would lead to simplification and reducing procedures for administration of financial incentive to MSMEs under the Industrial Promotion Policy leading to an increase in pace of promotion of investment in the Food Processing Sector in the State and generation of more number of Employment Opportunities.