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Kerala announces large subsidies for IT projects

Gopalan told reporters that this is the highest subsidy offered by any state government in the country in the IT area.

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She said the industries department would also offer an additional 50 per cent incentive for installation of captive power generation sets in these units subject to a maximum of Rs 1 million.

She said the norms and procedures mentioned in the manual of state investment subsidy would be followed for assessing the eligibility. The cost of ceiling on building has been enhanced from the existing rate of Rs 200 per square metre of plinth area to Rs 5,000. In the case of software industries, the rate of enhancement of minimum capacity of the existing units would not be a criterion for assessing investment subsidy.

Earlier, a minimum capacity enhancement of 25 per cent was mandatory for availing investment subsidy.

The minister said the new industrial policy of the government would be placed before the assembly in its next session.

UNI

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