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Odisha cabinet approves new IT Policy 2022

IT units with up to 40 employees will get subsidies on the rental of Incubation space for a maximum of 3 years based on their Incubation space.

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Bhubaneswar: Odisha cabinet on Tuesday approved a new IT policy to transform the state into a leading destination of investment for Information Technology in the country.

Official sources here said the vision of this policy is to position the state prominently on the global map as a preferred IT outsourcing destination propelling employment opportunities and inclusive growth.

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Odisha, the Sunrise State in Eastern India is on the cusp of an information & communication technology revolution.

The Government of Odisha has been at the forefront of the adoption of emerging technologies in IT to drive and transform governance in the state to positively impact the lives of its citizens.

The Odisha IT Policy 2022 will provide specific incentives for IT parks in which 25 percent of fixed capital investment will be provided as a capital subsidy limited to Rs 20 Crore.

15 percent of the cost of developing a solar power plant subject to a maximum of Rs 25 lakh will be reimbursed.

Greenfield IT Parks shall be eligible for 100 percent reimbursement of stamp Duty/ Registration Fee/ Conversion Fee under capital investment subsidy 30 percent of fixed capital investment in buildings and infrastructure, excluding the cost of land subject to a maximum of Rs 3 crore shall be accorded to eligible IT units.

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 crore per year for 5 years from the date of commencement of commercial operation.

The new IT policy will provide an exemption of electricity duty and Electrical Inspection Fee for 5 years. There will be reimbursement of electricity tariff at 30 percent for 3 years capped at Rs 35 lakh per unit.

IT units with up to 40 employees will get subsidies on the rental of Incubation space for a maximum of 3 years based on their Incubation space.

Reimbursement up to Rs 1400 per seat per month for Co-working space in designated IT Parks & Incubation Centers approved by Government and Rs. 1000 per seat per month in notified private IT Park/IT Spaces.

Eligible IT units hiring buildings on rent for operating their centers will be entitled to a subsidy of 75 percent of the actual rent paid or Rs 20 per sq. ft. per month whichever is lower.

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