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This scheme from the Madhya Pradesh Tourism Department encourages investments in film studios, museums, aquariums, and theme Read More... parks by offering a 15% capital subsidy. Read less
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Looking to set up a film studio, museum, aquarium, or theme park in Madhya Pradesh? The state government's Capital Investment Subsidy scheme might be just what you need to get your project off the ground. It's designed to boost private investment in these niche tourism attractions.
What Is This Scheme?
This scheme, launched by the Tourism Department of Madhya Pradesh, aims to provide financial support to individuals and companies looking to build specific tourism-related infrastructure. It offers a significant subsidy on the capital you invest to create facilities like film studios, film-making units, museums, aquariums, and theme parks. The Madhya Pradesh Tourism Board manages the implementation of this initiative.
Who Can Benefit From This Scheme?
The scheme is open to various legal entities that plan to establish new projects in the specified tourism categories. This includes companies (Public/Private Limited), partnership firms, proprietorships, and other registered legal bodies. The key is to make a substantial initial investment in creating these attractions.
Why This Scheme Is Important
By offering a substantial capital subsidy, the government aims to attract significant private investment. This not only helps in developing high-quality tourism infrastructure but also creates new avenues for entertainment and cultural experiences for residents and tourists alike. It's a strategic move to boost the tourism sector and its associated economic benefits within the state.
Objective
Benefits
Sources and references
Eligibility Criteria
- You must be setting up a new project in one of these categories: Film Studio, Film Making, Museum, Aquarium, or Theme Park.
- Your project needs to involve a minimum capital expenditure of ₹1,00,00,000/- (Rupees One Crore), as approved by the department.
- Your project must be recognized as a "Tourism Project" by the Tourism Department.
- You must be a registered legal entity, such as a Public/Private Limited Company, Partnership Firm, Proprietary Concern, or any other registered legal body.
- Your application for the capital subsidy must be submitted within one year from the date your project starts operations.
- You should maintain records of the investment made for at least 3 years prior to your project's operational start date, as this is used to calculate the subsidy.
- You cannot have claimed capital subsidy or investment promotion assistance for this project from any other source under the same policy.
How To Apply
All applications for this scheme, including those for land allocation and permissions, are to be submitted online. You can do this through the State Government's Invest Portal or the Single Window System.
Note: Specific application links and details can usually be found on the official Madhya Pradesh Tourism Board website or the state's investment portal.
Documents Required
For Company/Entity Registration:
- Memorandum and Articles of Association (for Public/Private Limited Companies).
- Partnership Deed and Certificate of Registration (for Partnership Firms).
- Certificate of Registration (for Proprietary Concerns or Other Legal Entities).
- Copy of Certificate of Establishment of the Firm/Company.
- Cancelled Cheque of the Firm/Company's bank account.
- Copy of PAN Card.
- Copy of Photo ID Proof (like Aadhaar Card, Voter ID, Passport, etc.).
- Copy of Vendor Form.
- Proof of Legal Authorization for the person representing the unit.
For Land and Project Details:
- Land Ownership Documents (Certified Khasra).
- Site Map of the project location.
- Registered Sale Deed or Lease Deed (to prove title).
- Copy of the Project Report.
- Copy of Map Sanctioned by the Local Authority (e.g., Municipal Corporation, Municipality).
- Copy of Building Permission granted by the relevant authority.
- Copy of Approved Floor Plan.
- Completion Certificate issued by the Competent Authority.
- Coloured Photographs of the Unit/Project from 03 different angles (JPG format, not more than 500 KB each).
For Financial and Operational Proof:
- Certificate of Total Project Cost, certified by a Certified Engineer/Valuer.
- Certificate of Total Capital Cost, certified by a Chartered Accountant (CA).
- Details of any debt from concerned Financial Institutions.
- Proof of Date of Commercial Operation (e.g., Photocopy of the first lodging bill, catering bill, or bill for services provided).
FAQ’s
How long do I have to apply for the subsidy after my tourism unit starts operations?
You have a period of one year from the date your unit officially commences commercial operations to submit your application for the capital subsidy.
What happens if I have to shut down my business shortly after receiving the subsidy?
If the unit closes within 1 year of receiving the subsidy, you must refund 80% of the amount. If it closes within 2 years, 60% must be refunded. Should it close within 3 years, you'll need to refund 50% of the subsidy received.
Can I claim subsidies from multiple government schemes if my project is eligible for more than one?
No, if your project qualifies for benefits under multiple categories or schemes, you must choose and apply for only one category to receive the subsidy.
Are there any special incentives for entrepreneurs from Scheduled Caste (SC) or Scheduled Tribe (ST) backgrounds?
Yes, entrepreneurs from SC/ST communities who own 100% of the tourism project are eligible for an additional 5% capital investment subsidy, providing extra financial support.
What is the maximum subsidy I can receive under this scheme?
The subsidy is calculated as 15% of your fixed capital investment, but there's a cap. The maximum subsidy amount you can receive is ₹5,00,00,000/- (Rupees Five Crore).
Do I need to keep my business running for a specific minimum period after getting the subsidy?
Yes, you are required to keep the unit operational for at least three years from the date you receive the subsidy. You also need to submit an annual self-declaration confirming its continuous operation.
What proof do I need to show that my unit has started its commercial operations?
You can prove the date of commercial operation by submitting copies of documents like your first lodging bill, catering bill, bill for services provided, or any other legally accepted proof.
Can I include capital expenditure incurred before the official start date of my project?
Yes, capital expenditure incurred up to five years prior to the commencement date is considered valid, provided the project was executed and operated in a continuous manner.
Is there a minimum investment required to be eligible for this subsidy?
To be eligible, your project must involve a minimum capital expenditure of ₹1,00,00,000/- (Rupees One Crore), as approved by the department.
Are there any benefits for setting up projects in less developed or remote areas?
Projects located in remote or less developed areas can receive an additional 5% Capital Investment Subsidy. The minimum investment limit and room ceiling for these projects are also reduced by 50%.
Whose certification is needed to verify the capital costs for my subsidy application?
The total capital cost of your project must be certified by a Chartered Accountant (CA). For the total project cost, you will need certification from a certified Engineer or Valuer.
Does this subsidy apply if I'm expanding an existing tourism business, like a hotel?
Expansion projects are eligible if there's a minimum 50% increase in the staying capacity of the existing establishment. The subsidy would then apply to the new investment made for this expansion.
Is it compulsory for my project to be established during the current policy period to get the subsidy?
Yes, your project must be established and made operational within the active period of the policy to be eligible for the capital investment subsidy.
Do I need to hire local people, and are there any specific employment targets?
To qualify for the capital subsidy, it is mandatory to employ at least 70% of your total staff from the resident population of Madhya Pradesh.
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