The State Cabinet on Wednesday approved a dedicated policy for the food processing sector that promises 25 per cent subsidy excluding land cost for mega food park developers with a subsidy cap of Rs 15 crore.
For small food park developers, the policy allows 25 per cent subsidy with a cap of Rs 2 crore. The policy also envisages up to 33 per cent subsidy for food parks proposed in the economically backward KBK (Kalahandi-Bolangir-Koraput) region and for projects with women and people from SC/ST categories as promoters.
Units in the food processing sector will enjoy five per cent interest subsidy for a period of five years and VAT (valued added tax) waiver for 10 years, according to the policy provisions. Besides, the state government will offer financial assistance in the range of Rs 2-Rs 5 lakh. The state has received a string of investment proposals from biggies in the food processing sector like ITC, Parle Agro Indo Nissin, Future Foods and Nestle. The State Cabinet gave its nod to the establishment of Odisha Green Energy Development Corporation, a subsidiary of Odisha Hydro Power Corporation (OHPC). The chairman of OHPC will head the corporation. The green corporation is being set up keeping in view the enormous potential for the renewable energy sector in the state. The potential for green energy has been assessed at 16,230 MW with soar power having the lion's share at 14,000 MW followed by wind power and bio-mass at 1,700 MW and 350 MW respectively.
The proposed policy e-auction of liquor shops was also approved by the Cabinet. The auctioning system is expected to be put in place in two to three months.
Presently, there are 1,500 liquor shops across the country with the state earning an annual revenue of Rs 1,700 crore.
