W Bengal releases Incentive Scheme 2013 for MSMEs

Kolkata, Mar 26 (KNN)  The West Bengal Government will provide capital investment subsidy ranging between 25 per cent and 40 per cent of fixed capital for micro enterprises and 15 per cent – 30 per cent for small enterprises.
 
An additional subsidy of 20 per cent will be given to MSMEs wholly owned by women, SC/ST and minority community entrepreneurs.
 
However, subsidy has been capped at Rs 50 lakhs for a small enterprise.
 
Besides, the MSMEs in the state would be entitled to interest subsidy on term loans borrowed from a commercial bank equivalent to 6-7.5 per cent.
 
The MSMEs will be entitled to waiver of electricity duty as well.
 
The Department of Micro and Small Scale Enterprises and Textiles, Government of West Bengal has sanctioned the implementation of a new scheme for MSMEs in the state to ensure growth and development of the sector.
 
The West Bengal Incentive Scheme 2013 (WBIS-2013) for Micro, Small and Medium Enterprises was unveiled on February-3.
 
“The object of the Scheme is to extend fiscal incentives to encourage entrepreneurs to set up Micro, Small and Medium Enterprises with a view to focusing on development of MSMEs in the backward region of the State and creating a sustainable ecosystem in the MSME sector which can maximize the utilization of resource and widen the area of operation to make the State emerge as the MSME leader in the country,” an official notification said.
 
Effective April 1, 2013, the scheme will be valid until March 31, 2018.
 
“Any micro, small or medium unit/enterprise in the manufacturing sector shall be eligible for incentives under WBIS-2013 for the MSMEs excluding those mentioned in the negative list of industries…,” it said.
 
Among the other incentives listed are power subsidy; subsidy for energy efficiency; subsidy on stamp duty and registration fee; refund of entry tax; refund of VAT; refund of central sales tax; subsidy for water conservation/environment compliance; subsidy for standard quality compliance; work force welfare assistance; and subsidy for patent registration.
 
“A micro, small or medium enterprise claiming to be eligible for incentive under WBIS2013 for MSMEs shall duly apply to the General Manager, District Industries Centre concerned for Eligibility-cum-Registration Certificate…,” it said.  Stipulated forms are available for units to apply for incentives.