These companies will get assistance from government, a big decision has made

The state government is set to offer financial support and various forms of assistance to industries that create significant employment opportunities.

Just few days prior to the Global Investors Summit (GIS), the Mohan Cabinet approved seven policies aimed at fostering startups, as well as micro, small, and medium enterprises. These initiatives will provide subsidies of up to 40 percent to eligible industries. Priority financial assistance will be extended to Scheduled Castes, Scheduled Tribes, women, and individuals with disabilities for establishing their businesses.

Companies with an annual turnover ranging from Rs 10 crore to Rs 500 crore investing in Madhya Pradesh will be eligible for grants of up to Rs 125 crore to acquire machinery and equipment.

Companies must ensure maximum employment opportunities

To qualify for these benefits, companies must ensure maximum employment opportunities for the youth of Madhya Pradesh. Additionally, plans are underway to transform Bhopal, Indore, Gwalior, Jabalpur, and Ujjain into electric vehicle (EV) cities, where the state government will offer incentives and various discounts on EV purchases.

It is need to know that the Tapti Mega Recharge Project has also received approval, which entails the construction of a 273 km canal designed to recharge 11.76 cubic meters of water. This initiative aims to enhance irrigation capacity across 123,000 hectares in the Khandwa-Burhanpur region.

The government has asserted that this represents the largest recharge project to date. Urban Development and Housing Minister Kailash Vijayvargiya announced that a Memorandum of Understanding (MoU) will soon be signed between Madhya Pradesh and Maharashtra concerning the world’s largest Tapti Mega Water Recharge Project.

Furthermore, Bhopal’s Lake View Ashok Hotel is set to be developed into a brand hotel through a public-private partnership (PPP), generating an annual revenue of Rs 10 crore for the government. A 1,000-seat hall will be constructed, showcasing the state’s artistic heritage alongside the hotel.