Investment Promotion Assistance To Setup Large/Mega/Ultra-Mega Tourism Projects

DETAILS The scheme "Investment Promotion Assistance to Setup Large/Mega/Ultra-Mega Tourism Projects" was launched by the Tourism Department, Government of Madhya Pradesh. The scheme aims to encourage the establishment of substantial tourism infrastructure by providing financial incentives based on capital investment and employment generation. The scheme provides investment promotion assistance ranging from 30% of the capital investment up to a maximum ceiling of ₹90,00,00,000/- depending on the project category (Large, Mega, or Ultra-mega). The applicant must be a private investor or legal entity willing to invest a minimum of ₹10,00,00,000/- and ensure specific employment numbers for residents of Madhya Pradesh. The scheme is implemented by the Madhya Pradesh Tourism Board. The applications for this scheme are accepted online through the Madhya Pradesh Government's Invest Portal. BENEFITS Large Projects The beneficiary will receive Investment Promotion Assistance of 30% on capital investment, subject to a maximum ceiling of ₹15,00,00,000/-. Mega Projects The beneficiary will receive Investment Promotion Assistance of 30% on capital investment, subject to a maximum ceiling of ₹30,00,00,000/-. Ultra-mega Projects The beneficiary will receive Investment Promotion Assistance of 30% on capital investment, subject to a maximum ceiling of ₹90,00,00,000/-. Disbursement Schedule The assistance is disbursed over four years in the following percentage of the total approved assistance amount: First Year: 10%. Second Year: 10%. Third Year: 5%. Fourth Year: 5%. Heritage Projects For Heritage Hotels, the mandatory requirements for investment and employment are reduced to 50% of the limits set for Large, Mega, and Ultra-mega categories, while they remain eligible for the benefits associated with those categories. SC/ST Entrepreneurs Applicants belonging to SC/ST categories with 100% ownership are entitled to an additional 5% capital investment subsidy. Phase-wise Incentives Projects are entitled to get phase-wise incentives provided the first phase is completed in 2 years, the second phase in 3 years, and the last phase in 5 years. Conditions The unit claiming Investment Promotion Assistance shall not be entitled to capital subsidy under any other category of the policy. The beneficiary must maintain the minimum employment of residents of M.P. as prescribed for their category. The beneficiary must complete the project phases within the approved implementation timeline to receive phase-wise grants. If the unit executes the entire project in one go, capital expenditure incurred up to a maximum of 05 years prior to the commencement of the unit is considered valid for the grant calculation. ELIGIBILITY The applicant must be a private entity, such as a public/private limited company, partnership firm, proprietary concern, or other legal entity. The applicant must fulfill the criteria for one of the following categories to be eligible for assistance: Large Project: The applicant must make a minimum capital expenditure of ₹10,00,00,000/- or more and generate employment for a minimum of 50 residents of M.P. Mega Project: The applicant must make a minimum capital expenditure of ₹50,00,00,000/- or more and generate employment for a minimum of 100 residents of M.P. Ultra-mega Project: The applicant must make a minimum capital expenditure of ₹100,00,00,000/- or more and generate employment for a minimum of 200 residents of M.P. The applicant must ensure that the employment provided meets the condition of being for residents of Madhya Pradesh. The applicant must not be claiming Capital Subsidy under any other clause of the Tourism Policy if applying for this Investment Promotion Assistance. The applicant must execute the project within the stipulated timelines (2 years for phase 1, 3 years for phase 2, and 5 years for the final phase) to avail phase-wise incentives. The applicant setting up Heritage Hotels must meet at least 50% of the minimum investment and employment conditions specified for the Large, Mega, or Ultra-mega categories.