Odisha approves new IT Policy, aims new investment
Odisha approves new IT Policy, aims new investment

The Odisha government on Tuesday unveiled its new IT Policy, 2022, with the goal of making the state a top location for information technology investment and boosting employment.

After the state cabinet meeting, chaired by Chief Minister Naveen Patnaik, adopted the new IT Policy, Parliamentary Affairs Minister Niranjan Pujari notified the Assembly of it. The goal of the policy is to increase investment and employment in the IT industry. It will be in effect for five years following the publication of its gazette notice or until it is replaced by another policy.

The policy, which was created by the electronics and information technology department, aims to make Odisha the top location for information technology investment in the nation. It  also seeks to establish the state as a leader in IT outsourcing, which will increase employment prospects and inclusive growth, according to Pujari.

The policy was created in accordance with the state's 5T programme for excellent governance, which emphasises cooperation, technology, transparency, time, and transformation.

A particular incentive for IT parks has been included in the new IT policy. 15% of the cost of establishing a solar power plant will be repaid, subject to a maximum of Rs 25 lakh, while 25% of the fixed capital investment will be provided as capital subsidy up to Rs 20 crore.

The policy stated that "Greenfield lT parks shall be entitled for 100% refund of stamp duty, registration fee, and conversion fee." Eligible LT units will get 30% of fixed capital investments made in buildings and infrastructure, excluding the cost of land, up to a maximum of Rs 3 crore.

For a period of five years starting from the date of the start of commercial operation, the qualified LT units will be entitled to receive an interest subsidy at 5% per annum on term loans obtained from recognised financial institutions and banks, up to a maximum of Rs 10 crore per year, it added.

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