|
Special Financial Package for IT Industry
Considering the
tremendous potential for the IT industry in the State, KSIDC evolved a
special financial package to promote the sector.
-
New IT unit are
eligible for an Investment Subsidy @ 20% of fixed Capital
Investment, subject to a maximum of Rs. 25 lakhs. KSIDC will process
and release the eligible subsidy against this. (Fixed Capital
Investment includes land, buildings, plant & machinery, utilities
and miscellaneous fixed assets.)
-
75 % of the
eligible subsidy is included in the means of finance as Subsidy
Loans, to reduce the minimum promoter�s contribution in the project.
The Subsidy Loan is given at the term loan rate, for a period of 1
year and will be adjusted against subsidy released from Government.
-
Units are eligible
for an initial moratorium up to 2 Years, as per the special package.
-
A Venture Capital
Fund with a corpus of Rs 20 Crores has been formed jointly by the
Small Industries Development Bank of India (SIDBI), Kerala State
Industrial Development Corporation Ltd. (KSIDC) and Kerala Financial
Corporation (KFC). IT units can avail venture capital assistance
from the fund, if they are otherwise eligible.
|