The Government of Odisha on February 26, 2024, issued Operational Guidelines for Interest Subsidy Under Odisha MSME Development Policy-2022.
The Eligibility criteria for the policy -
•New enterprises with investment in Plant & Machinery up to INR 50 crores except the units/activities listed under Annexure-II of Odisha MSME Development Policy-2022, amended from time to time.
•Migrated industrial unit / Transferred unit shall be treated as a new Industrial unit under Odisha MSME Development Policy 2022.
•The date of the first Fixed Capital Investment (FCI) for new enterprises should be on or after the effective date of Odisha MSME Development Policy 2022. This is not applicable in the case of Migrated units.
•New enterprises must commence commercial production within three years from the date of the first FCI.
•Eligible Industrial units that have availed of Interest Subsidy on Term loan under any other scheme of the State Government or Government of India or Government Agencies or any Financial Institution(s) shall be entitled only to the differential amount of benefit.
•Incentive shall not be sanctioned and disbursed if the enterprise is found closed/has gone out of production as of the date of sanction or disbursement. In such case, sanction and/or disbursement, as the case may be, shall be reconsidered if commercial production resumes satisfactorily within two years from the date of closure of the enterprise.
•Interest Subsidy shall not be applicable where the Term loan is sanctioned and disbursed after the date of commencement of commercial production.
•Units that are classified as an NPA at the time of making the application and/or at any time up to the date of disbursement of this benefit will not be eligible to avail of such incentive.
[Notification No. MSME-IP-MISC-0001-2024 1348/MSME]
