PLEDGE (Promoting Leadership and Enterprise for Development of Growth Engines)
This intervention aims to promote the establishment of private MSME Parks that boost the state's industrialization, support economic progress, and facilitate job creation by providing easy finance to the promoter for setting up private industrial parks. The growth of MSMEs within the PLEDGE Parks shall contribute to inclusive economic growth in the region creating employment opportunities and stimulating overall economic development of the state.
This scheme highlights the implementation and impact of 50% of interest cost on gap funding support through banks provided to Micro, Small, and Medium Enterprises (MSMEs) in the state of Uttar Pradesh.
Objective
To create a conducive environment for MSMEs to thrive, contribute to the economic development of aspirational districts, and ultimately lead to inclusive growth and prosperity.
How it Works
Avail Incentives for the establishment of industrial parks in easy 5 steps!
- Application to be submitted at District Industrial Centres.
- Approval at District level Committee
- Submission of DPR to the PLEDGE Cell
- Evaluation by the PLEDGE Cell
- Issuance of the Letter of Comfort
Eligibility Criteria
The developer / promoter should have 10 acres of contiguous land in the state of Uttar Pradesh
Documents Required
- Detailed Project report as per the SOP for the development of the park
- Layout plan of the proposed park
- Character certificate of the promoter issued from DM level.
- Encumbrance-free certificate
- Revenue record related to ownership of land (Khasra, Khatuni, registered deed etc.)
- Record related to industrial land use.
- Details of approach road with of minimum width of 12 mt & a detail availability of power supply.
Benefits
Benefits under the scheme
- Up to 100% exemption in stamp duty on the purchase of land for the park.
- 50 to 100 % of stamp duty exemption on the purchase/lease of plot inside the park
- Fund for the development activities of Pledge Park will be provided to promoters in form of loan at an interest rate of 1%. Non-agricultural/industrial land will be offered at 90% cost of the circle rate, with a maximum limit of Rs 50 lakh per acre.
- Grant support of up to INR 4 Cr to the entrepreneurs as per MSME policy -2022 for purchasing land or taking land on lease inside the park.
- Compulsory establishment of minimum number of units per acre. Eg: For example, minimum 25 units in a park of 25 acre.
Additional benefits under RAMP Programme
- Fiscal support of 50 % of the interest on the gap funding to PLEDGE Parks in the state with a cap of 50.00 Lakhs.
- Awareness workshops to be conducted across districts for dissemination of the scheme information.
Impact
The establishment of private industrial parks and the provision of 50% interest cost support on gap funding for MSMEs can lead to several positive outcomes. The project is expected to substantially enhance the livelihood and eventually lead to income generating activities in the project area. It is estimated that one such project generates approximately 4000 direct and indirect employment. Therefore, a total of 16 such projects over a period of 4 years will generate approximately 64,000 direct and indirect employment.
Economic growth is anticipated through increased industrial activities, attracting investments, and fostering innovation. Technological upgradation within MSMEs can improve productivity and competitiveness, while skill development programs empower the local workforce. Market linkages and clustering of MSMEs can enhance collaboration and access to broader markets. Additionally, the scheme's emphasis on sustainable growth aligns with development goals, promoting long-term benefits for the regions. Overall, the PLEDGE scheme has the potential to uplift the aspirational districts' economic and social landscape, creating a conducive environment for MSMEs to thrive.
Pledge Park
M/s Sanjeevani Fertilizers and Chemicals Private Limited, Village - Gaur Pathak Tahisil Bhoganipur, Kanpur Dehat
