Amendment status not verified — confirm the current text below against the official source.
INCENTIVE FOR TOURISM PROJECTS : To allure private sector investment, it is envisaged to offer both financial & non-financial incentives to different tourism projects. 7.1. Financial Incentives : 7.1.1. Allotment of land : The land for tourism projects in general will be allotted at concessional rates as per the IPR. However, the Government may allot land by auction or any other mode in specific tourist destinations, - which will be notified by the Government from time to time. Institutions set up exclusively for imparting education and training in Hotel and Tourism management in zone B & C will also be eligible for allotment of land. 7.1.2. Capital Investment subsidy : To encourage investment in tourism infrastructure and tourism projects, investment subsidy is envisaged for new Tourism Projects. All new eligible tourism projects mentioned in Clause 6.10 and investment not below Rs.10 lakh shall be eligible to get capital investment subsidy as per the following rates & zones mentioned in Clause 6.9 :— Investment range Zone-A Zone-B Zone-C Rs.10 lakh – 20 Cr. 20% of the capital 25% of the capital 30% of the capital investment subject investment subject investment subject to maximum of to maximum of to maximum of Rs.20 lakh. Rs.25 lakh. Rs.30 lakh. Rs.20 Cr. & above 25% of the capital 30% of the capital 35% of the capital investment subject investment subject investment subject to maximum of to maximum of to maximum of Rs.30 lakh. Rs.35 lakh. Rs.40 lakh. The Eligible Units after 3 years of construction or after one year of commencement of commercial operations of the project, whichever is later, will be eligible for availing capital investment subsidy. 7.1.3. Interest subsidy : All new eligible tourism projects mentioned in Clause 6.10 and investment not below Rs.10 lakh shall be eligible to get interest subsidy as per the following rates & locations mentioned in Clause 6.9 for a period not more than 5 years in Zone-A & B and 7 years in Zone-C, provided the concerned promoter(s) shall not have defaulted to Odisha State Financial Corporation (OSFC )/ Industrial Investment Promotion Corporation of Orissa Limited (IPICOL) / SIDBI / Banks / Public Financial Institutions / other Government Agencies in payment of interest & installment in connection with any other commercial venture with which the concerned promoter is directly or indirectly associated. Zone-A Zone-B Zone-C 3% interest subsidy 5% interest subsidy 5% interest subsidy subject to maximum of subject to maximum of subject to maximum of Rs.1.00 Cr. for the entire Rs.1.00 Cr. for the entire Rs.1.00 Cr. for the entire 5 years. 5 years. 5 years. Interest subsidy can only be availed maximum for a period of 5 years in case of Zone-A & B, and 7 years in case of Zone-C, after commencement of commercial operations of the project. 7.1.4. Stamp Duty exemption : All Tourism Projects shall be eligible to get 50% exemption in Stamp Duty on purchase of land for the project. . 7.1.5. Reimbursement of VAT : New Tourism Projects shall be eligible for reimbursement of 30% of actual net VAT paid subject to maximum of Rs.10 lakh per annum for a period of 5 years from COD. 7.1.6. Reimbursement of Entertainment Tax : New Multiplex Cinema halls of at least three (3) screens with a minimum capital investment of Rs. 3 crore, with modern projection system, sound system, air conditioning etc., will be reimbursed 100% Entertainment Tax for a period of five (5) years. Similar benefits shall be extended to other eligible tourism projects like Public Aquarium, Aqua Park & Amusement Park. 7.1.7. Transport Industry : The State will facilitate the provision of adequate quality transport services for tourists. 75% exemption from registration charges and 50% concession from payment of permit charges shall be allowed for new air-conditioned coaches having minimum seating capacity of 25 seats, registered as contract carriage and operating in notified tourist circuits. The Department of Tourism shall notify the tourist circuits for this purpose from time to time. 7.1.8. Participation in overseas Tourism Events : DoT shall provide incentives to the tourism service provider of State for participating in selective overseas tourism events. The incentive shall be limited to 50% of the space rent actually paid and travel expenses incurred by the tourism service provider of the State subject to maximum of Rs.75,000 for each event. DoT shall notify the selective overseas tourism events and admissible travel expenses at the beginning of the year, for which such incentives shall be provided. Such concession shall be limited to two events in one financial year for any agency. 7.1.9. Production of Tourism Literature & Promotion through Electronics Media : Tourism service provider of the State shall be eligible to get incentive up to 20% of the actual cost of production of Odisha Tourism Literature / production of film on Odisha Tourism, not exceeding Rs.50,000/- per annum, subject to the condition that not less than 50% of the literature or film covers overall tourism products of the State. 7.1.10. Kiosk in important tourist centers : Tourism Department may create Kiosk in important tourist centers for sale of Souvenir, Handicraft items, Tea stall & other utility shops and allot them to unemployed youth of the locality including the existing unorganized vendors at concessional rent / fee. Tourism Department may bring out the detail allotment procedure & guideline of such Kiosk by way of Notification. 7.1.11. Hotel & Tourism Management Institutes : Institutions set up exclusively for imparting education and training in Hotel and Tourism management in zone B & C will be allotted land as per tourism policy. No other financial or non- financial incentives will, however, be provided to this category of tourism projects. While extending incentives, subsidies & concessions, the total financial incentive shall not exceed the eligible capital investment (as defined in this policy) of the project. &% 7.2. Special Tourism Zone : Many regions of the State have huge tourism potential. To have more focused intervention, it is proposed that the state tourism promotion council may identify and notify such regions as Special Tourism Zones. The State Government shall develop quality infrastructure like roads, sanitation, power supply and water supply through convergence of resources. The State Tourism Promotion Council may allow separate incentives in the identified zone for specific time period. 7.3. Non-financial Incentive : It is expected that the private investors will find the above mentioned financial incentives and concessions sufficiently attractive for taking up new projects. In addition, new tourism units will benefit from a number of other support mechanisms of the Government. · Most significantly, the Tourism Department will provide facilitation in obtaining various permissions and clearances required from statutory bodies like CRZ, Municipal/local bodies, Airports, Pollution Control Board, etc. on best effort basis. · The Department will make use of the provisions of Single Window, Escort Officer, etc. to fast-track the clearance of tourism projects. · The Government will also assist in promotion of private tourism projects in national and international level. For this purpose opportunities to participate in Road shows and Trade Fairs, link from Government Websites, partnership for hosting events and activities etc. by designing suitable modalities would be provided..