MANISH GUPTA
Ranchi, July 26: The state finance department has raised several queries on the draft Jharkhand Startup Policy 2021, which was expected to be announced by the end of July as per the Jharkhand Information Technology Secretary Kripa Nand Jha.
“The finance department has asked us to get approval from different departments for the various incentives provided in the draft policy. We have submitted the files and are following it up,” said DS Verma, Project Manager, Jharkhand IT department.
The new development is further going to delay the release of the new policy that was initially put up for various approvals in December 2021 and was supposed to replace the earlier policy of 2016 that ran for five years and lapsed on 19 September 2021.
The new proposed policy to promote startups in the state and build the right ecosystem has provided for various financial and non-financial incentives including reimbursement of GST, registration fee, municipal duties, lease rentals and electricity bills.
As per the draft policy, startups registered in Jharkhand will be entitled for 100 per cent reimbursement of the state GST, 100 per cent of registration fee/ stamp duty/ transfer duty paid on purchase of land, and all municipal duties paid for three years.
Further, reimbursement of lease rental up to Rs 3 lakh per year for a period of five years has been proposed. And, 30 per cent of the amount paid to electricity discoms up to Rs 60,000 per annum will be reimbursed on furnishing self certified bills.
There are additional benefits to enterprises run by SC/ ST/ women and handicapped entrepreneurs. All the incentives will be applicable for a unit till the time they remain a ‘startup’ as defined by the Indian government, the draft startup policy says.
It is learnt that the finance department wants the IT department to take approval from all the respective departments like GST matters from commercial taxes department, lease rental from urban development department, registration fee from revenue department, and electricity rebate from the energy department.
The IT department has filed for the required approvals from all these departments.
Jharkhand IT Secretary Kripa Nand Jha, in an earlier conversation with lagatar24.com earlier this month, had expressed confidence that the new policy will be ready for launch within a month. However, the startup entrepreneurs in the state are not surprised.
“This was bound to happen. I never expected this policy to come out this month. At the earliest, it will take one more year. And, by that time the few startups that are still trying to keep afloat will die like many others,” said a startup entrepreneur based in Ranchi.
