Jaipur, Sep 30 (IANS): Rajasthan Cabinet approved the 'Rajasthan Investment Promotion' scheme on Sunday.

"The minimum limit of investment for incentives under the Standard Services Package in RIPS has been reduced from Rs 50 crore to Rs 25 crore, and for tourism units, it has been further reduced to Rs 10 crore. RIPS includes aero and space, defence, drones, semiconductors, agri-tech and waste recycling sectors. MSME enterprises with a fixed capital investment of less than Rs 1 crore have also been brought under the purview of RIPS," said Deputy Chief Minister Diya Kumari.

Along with setting up new units and encouraging already running units, the benefits of RIPS will also be provided to those existing enterprises, which are becoming exporters for the first time.

She said that incentives related to land and electricity have been introduced to reduce the cost of units.

“A flexible model for payment of land cost for investors setting up manufacturing units has been included in RIPS, in which after paying 25 per cent of the land cost in advance, the remaining 75 per cent amount can be paid in 10 instalments with 8 per cent interest,” the Deputy Chief Minister said.

She said that it was decided that the power cost incentives would be provided to 8 types of industries with high energy consumption.

“The benefit of interest exemption for a longer period (7 years) will be given to the MSME sector as compared to the standard manufacturing package. Additional benefits will be given to Khadi, rural tourism and agro-processing MSMEs,” the Deputy Chief Minister said.

She added that a total of 100 per cent SGST reimbursement will be provided to women-run startups for two years.

“5 times incentive will be given on investment of more than Rs three thousand crore,” the Deputy Chief Minister said.

She said that to bring transparency and uniformity in recruitments, educational qualification for Class IV service and equivalent posts has been increased from 5th and 8th class pass to 10th.

“Recruitment for the post of driver will also be done through written examination by the Rajasthan Staff Selection Board. At present, about 60000 posts of Class IV employees are vacant in various departments, on which recruitment will be done in future,” the Deputy Chief Minister said.

She added that approvals for the allocation of 10,418 hectares of land for 5,708 MW solar energy and wind-solar hybrid projects were given in the cabinet with the aim of increasing power generation

“A 2000 MW solar power project based on crystalline technology will be set up in village Bodan of Nachna-1 subdivision tehsil of Jaisalmer district, a 1500 MW solar power project based on crystalline technology with tracker will be set up in village Mohangarh of Mohangarh number 1 subdivision tehsil of Jaisalmer district and village Pohad of Mohangarh number 2 subdivision tehsil of Jaisalmer district,” the Deputy Chief Minister said.

She said that the approval has been given for the allotment of land in the Jaisalmer and Phalodi districts for an 1100 MW solar power project and a 108 MW wind-solar hybrid project.

“A 1000 MW solar power project will be set up in Siyambar village of Ramgarh tehsil of Jaisalmer district,” she added.