Union Budget 2023-24
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Sector Tourism & Hospitality
State Odisha
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Overview

Odisha is known for its scenic beauty, exquisite temples, extraordinary monuments, exquisite craftsmanship, wildlife sanctuaries, natural landscape and pristine beached all over the world. Tourism in Odisha has grown considerably in recent years on account of good infrastructure facilities, favourable government policies, improvement of existing tourist locations, development of new tourist destinations and strong growth of hotel and restaurant industry in the state.

Odisha has recognised this growth and identified Tourism as one of the 6 focus sectors. In addition, the state has promulgated a dedicated Tourism Policy to provided best-in-class incentives and facilitation to the enterprises in the sector. The states envisages to become the premier tourism destination of the world and provides unmatched facilitation for enterprises in the sector.

Invertir Odisha

State Incentives

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  • One-Time Incentives
  • Recurring Incentives
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Land Cost Rebate

Land at subsidised rates as per the Industrial Policy 2015:

  • Applicable for all industries

25% subsidy on cost of land:

  • Applicable for Anchor Industrial Units, i.e. for investments by lead investors in a park or cluster which would promote and further facilitate investment in the park or cluster
Fixed Capital Rebate

Capital grant to support Quality Infrastructure in Industrial parks/clusters:

  • 50% of the infrastructure cost with a ceiling of INR10 crore per green field industrial park/cluster
  • 50% of total cost with a ceiling of INR5 crore for up gradation of brown field clusters.

Capital Subsidy of 20%:

  • Investment of INR 20 lakh - 50 crores and limit INR 10 crores
  • Investment of INR 50 crores and above. and limit INR 15 crores
  • Equipment worth INR 1 crore or more for Adventure & Water sports and limit INR 0.5 crore

Capital Subsidy of 30%:

  • Tented accommodation with minimum INR 0.20 crore and limit INR 0.15 crore

Additional 5%:

  • Projects around Chilika Lake, KBK, Kandhamala and Gajapati districts
  • Projects owned by Women, SC, ST or differently abled entrepreneurs

For MSMEs:

@ 25%:

  • For Micro & Small up to INR 1 crore

@ 30%:

  • For Micro & Small up to INR 1.25 crores owned by SC, ST, Differently abled, women or technical entrepreneur

Additional 5%:

  • For MSMEs unit in industrially backward districts including KBK or Up to INR 10 lakhs for units engaged in recycling of E-waste, Hospital waste, Construction & demolition waste
Stamp Duty Exemption

100% Exemption:

  • With respect to land allotted by the Government to IDCO or Govt/IDCO to Private Industrial Estate Developers or when transfer of land/shed by Govt, IDCO and Private Industrial Estate developer to industrial units.
  • On Loan agreements, credit deeds, mortgages and hypothecation deeds executed by the Industrial Units in favour of Banks or Financial Institutions
Other Incentives
  • For Workers' Hostel:Land rate at 50% of the prevailing market rates of IDCO for 1-3 acres of land, based on employment and investment with minimum investment of INR 100 crores in a forward district with employment for 100 workers and INR 50 crores in backward district with employment of 75 workers
  • One-time reimbursement of Energy audit cost for INR 1 lakh
  • Environmental Protection Infrastructure Subsidy of INR 20 Lakhs or 20% of capital cost of setting ETP
  • 100% of the registration for Patent Registration cost up to maximum of INR 10 Lakhs
  • Quality Certification: Renewal for consecutive two years i.e. for a period of 3 years @ 100% to a total maximum limit of INR 3 Lakhs
  • Assistance for technical know-how: 100% of cost of purchase of technical know- how up to INR 1 Lakh in case of indigenous technology and up to INR5 Lakhs in case of imported technology
  • Entrepreneurship Development Subsidy: Reimbursement of 75% of course fee limited to INR 50,000 per course
  • Transport industry: 75% exemption from registration charges and 50% concession from payment of permit charges for AC coaches with minimum 25 seats
  • Participation in overseas Tourism Events: 50% of the space rent and travel expenses to a maximum of INR 75000
  • Film Shooting subsidy: 75% of actual expenditure in accommodation in Odisha to be reimbursed up to INR 10 lakh

For MSMEs:

  • Assistance for raising Capital through SME exchange: One-time grant of 20% of expenditure in raising capital up to INR 10 lakh after successfully raising the equity
  • Trade Mark Assistance: 50% of expenditure up to INR 25,000
  • Seed Capital Assistance: One-time grant of 10% of term loan disbursed up to INR 15 lakh for Micro & Small unit owned by 1st generation SC, ST, Differently abled or women entrepreneur in industrially backward districts including KBK
  • Project Report Subsidy: One-time grant of INR 50,000 or 2% of project cost, whichever lower for preparation of DPR/detailed feasibility report
  • Reimbursement of Audit Cost for Water Conservation: One-time reimbursement of 50% of audit cost up to INR 25,000
SGST Reimbursement

100% net SGST reimbursement:

  • For a period of 7 years, to a maximum of 200% of cost of plant and machinery
  • For New Pioneer units for a duration of 9 years, to a maximum of 200% of cost of plant and machinery
  • For Anchor units for a duration of 9 years, to a maximum of 200% of cost of plant and machinery

This provision will be notified by government soon.

Skill Development/ Training Incentive

Reimbursement of training cost up to INR 1750 – INR 4000 per person:

  • For every person newly trained or undergoing skill upgradation for a period of three years, based on employment and investment with minimum investment of INR 100 crores in a forward district with employment for 100 workers and INR 50 crores in backward district with employment of 75 workers.

@ Rs 2000 per employee:

  • Trained within 3 years

50% of skill upgradation or training for local manpower:

  • For MSMEs: Up to INR 3000 per person for maximum 10 persons in micro and 20 persons in Small and Medium enterprises. Additional INR 1000 per women trained
Interest Cost Subvention

5% per annum on term loan:

  • For a period of five years, to a maximum of INR 1 crore
Power Tariff Rebate

Reimbursement of INR 0.25 – 1.25 per unit:

  • For a period of 5 years, based on employment and investment with minimum investment of INR 100 crores in a forward district with employment for 100 workers and INR 50 crores in backward district with employment of 75 workers
Electricity Duty Rebate

100% Exemption:

  • For a contract demand of 5 MVA for 5 years
Employment Generation Incentives

@ 100% Reimbursement of Employment Cost Subsidy (ESI/ESF):

  • For 3 years for displaced employees and for 5 years for disabled employees

@ 75% for male; 100% for female:

  • For 5 years

Important Links

Major Players

  • Trident Hotels
  • Mayfair Group
  • Swosti Group
  • ITC Ltd.

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