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Assam cabinet approves special scheme for tea industry
The Assam cabinet on October 7 approved the Assam Tea Industries Special Incentives Scheme 2020 to provide succour to the tea industry in the state.
Under the scheme, 3 per cent interest subvention of working capital has been announced. Subsidy at the rate of Rs 7 per kg for production of orthodox or speciality tea was also approved under the scheme.
Moreover, 25 per cent subsidy on cost of plant and machinery for production of orthodox or speciality tea has also been sanctioned.
As per the scheme, Agriculture Income Tax Holiday for 3 years was approved for tea industry by the cabinet.
Further, the cabinet approved increase of assurance benefit payable under Assam Tea Plantations Provident Fund Scheme from Rs 1 lakh to Rs 2 lakh.
Day boarding and free uniform for children in 428 tea garden-managed schools of Assam was also approved by the cabinet.
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