Bhubaneswar, July 19 (UNI) Aiming to attract investment in the IT sector in the state, the cabinet of the Odisha government on Tuesday approved a new IT policy. The state cabinet headed by Chief Minister Naveen Patnaik has approved 17 proposals including the new Odisha IT Policy 2022 here during its meeting held in the morning. The vision of this policy is to transform Odisha into a leading destination of investment for information technology in the country and position it prominently on the global map as a preferred IT outsourcing destination propelling employment opportunities and inclusive growth, said an official. As per the policy, the state government will provide 25 percent of fixed capital investment as capital subsidy limited to Rs. 20 crores to the eligible IT firms. Another 15 percent of the cost of developing a solar power plant subject to a maximum of Rs. 25 lakh will be reimbursed by the government.
Greenfield IT parks will be eligible for 100 percent reimbursement of stamp duty, registration fee, and conversion fee. Similarly, 30 percent of fixed capital investment in buildings and infrastructure, excluding the cost of land will be provided subject to a maximum of Rs. 3 crores to eligible IT units. The government has also announced interest subsidies for IT firms. The eligible IT units will be entitled to get an interest subsidy at 5 percent per annum on term loans availed from recognized financial institutions and banks, subject to a maximum of Rs. 10 crores per year for a period of 5 years from the date of commencement of commercial operation.
