- The Maharashtra government on Tuesday unveiled its new information technology (IT) policy that aims to attract an investment worth Rs. 50,000 crore and generate employment for 10 lakh people in the state.
- The policy, called the new IT and Enabled Services policy, wants to give cities such as Bengaluru, Chennai and Hyderabad a run for their money.
- The state wants to exempt information technology and information technology-enabled service units from paying stamp and electricity duty.
- The other incentives include subsidy on electricity tariffs, property tax at residential rates, exemption from octroi, entry tax, Local Body Tax, concession on Works Contract Tax and VAT.
- In addition, an additional FSI of up to 200 per cent by charging a premium has been proposed in the new IT policy.
- Announcing the policy, Fadnavis said that the sops were crucial to boost IT-enabled industries in the state and generate employment.
- Fadnavis added that besides IT services, the state will offer an impetus to the animation industry as well by dropping the entertainment tax for companies involved in producing animation, provided they fulfill certain conditions.
- Industries secretary Apurva Chandra said that Maharashtra would reimburse property tax to those IT companies which set up units in rural areas. He added that in order to encourage IT companies to set up base in rural areas, they have proposed giving higher FSI to IT companies setting up business process outsourcing units in A,B and C category of municipal councils.
Source:The Economic Times