Bhubaneswar, December 5: Chief Secretary Asit Tripathy on Saturday directed concerned departments to make demand assessment of the rice bran oil and present availability of the raw material for promotion of small and medium enterprises in this sector.
“Since rice bran oil contains immune supporting nutrients and unsaturated fat, it can be developed to an attractive enterprise for young entrepreneurs. Proper assessment of the market demand and economy involved in the trade will be a reliable guide for the young entrepreneurs,” said Tripathy while chairing a review meeting on virtual mode at the Lokseva Bhawan here.
MS&ME Principal Secretary Satyabrata Sahu outlined the issues for discussion
Outlining the Covid response revised policies, Sahu said, “Incentives like interest subsidy @ 5% per annum for 5 years on term loan from the date of commercial production, 75% net SGST reimbursement for 5 years up to the limit of 100% investment on plant and machinery, exemption of electricity duty up to contract demand of 500 KVA for 5 years, assistance for quality certification, employment cost subsidy and technical knowhow now available for the sector.”
Industries Director Reghu G said, “As of now 12 rice bran units are operating in the State. Out of them, seven are in Bargarh district, one is in Jajpur district, one is in Khurda, two are in Koraput and one is in Balasore district.”
The A total amount of Rs 1,115.34 lakh incentive/subsidy has been provided to the eligible units.
Industries Department Assistant Director MM Patra said, “This type of enterprise is quite rewarding. Around 800 milligram of healthy edible oil can be extracted from the bran generated from one quintal of paddy.”
Principal Secretary (Finance) Ashok Kumar Meena also attended the meeting.