Tripura announces incentives for investors

AGARTALA, March 12 ? Tripura government has announced an incentives package to woo investors package to woo investors to the State. Industries Minister Pabitra Kar told a press conference today that the ?Tripura Incentive scheme-2002? will be operative from April this year for the next five years. The package includes provision of subsidy ranging from five per cent to 30 per cent in different industrial units and additional subsidy to the entrepreneurs belonging to scheduled caste, scheduled tribe, backward community and female entrepreneurs, he said. The package intends to provide reduction of sales tax for five years with a maximum range of rupees 20 lakh per year and the limit would be increased upto rupees 30 lakh for those units having a strength of 100 employees or more. The package also provides incentives to closed and sick units and a subsidy on the earnest money and security money for local industries, he said. Kar observed that State witnessed a considerable industrial growth in the past several years and a report of Central Planning Commission stated that Tripura had earned a 15.5 per cent growth in the industrial sector during 1993-94 to 1999-2000.