Rajasthan Investment Promotion Scheme (RIPS): Solar Equipments Sector

• Additional Investment Subsidy: 25% additional Investment Subsidy on State Tax Due and Deposited (STDD) for 7 years.
• Additional Employment Generation Subsidy: 25% additional Employment Generation Subsidy through reimbursement of the employer’s contribution towards Employees’ Provident Fund (EPF) and Employees’ State Insurance (ESI), subject to an overall upper limit of 75% per employee, for 7 years.
• Electricity Duty Exemption: Exemption from payment of Electricity Duty for an additional 3 years.
• Interest Subsidy: 5% Interest Subsidy on term loan taken from Financial Institutions, State Financial Institutions, or Banks recognized by the Reserve Bank of India, for investment in plant and machinery, for 5 years, subject to a maximum of ₹25,00,000/- per year.

Or,

• Capital Subsidy: Capital Subsidy equivalent to 20% of investment made on plant and machinery, subject to a maximum of ₹50,00,000/-.

The "Rajasthan Investment Promotion Scheme (RIPS)" is an umbrella scheme launched by the Commissioner Industries, Commerce, and CSR Department, Rajasthan. It aims to generate employment opportunities and promote rapid, sustainable, and balanced economic growth in the State of Rajasthan. Effective from December 12, 2019, to March 26, 2026, this initiative provides benefits to eligible manufacturing and services sector enterprises.

This component aims to promote investment in the Solar Equipments Sector by providing additional financial incentives to eligible enterprises. It supports investment, employment generation, energy cost reduction, and access to finance.

Entrepreneurs are eligible to apply for the scheme.

Claim of Investment Subsidy / Employment Generation Subsidy:

1. Copy of project report duly authenticated by the applicant;
2. Proof of investment;
3. Copies of bills/vouchers along with payment receipts from the concerned foreign supplier/suppliers
4. Copies of Challan for the amount of contribution of EPF and ESI deposited;
5. Proof of deposit of State Tax, if already deposited;
6. A self-attested declaration on a Non-judicial stamp paper of Rupees OneHundred Only in support of the facts of the application; and
7. Certificate of valuation by Chartered Accountant in Form-E appended to the Scheme.
8. An undertaking to the effect that subsidy is not being availed on second hand machinery.

For Exemption from Electricity Duty:

1. Copy of Project Report duly authenticated by the applicant.
2. Self-attested declaration in support of the facts of the application.
3. Proof of investment.
4. Copy of the first bill of supply/ invoice/ tax invoice for proof of commencement of commercial production, if applicable.
5. Copies of the Challan of EPF / ESI, if any.
6. Proof of Deposit of State Tax, if any.
7. Copy of resolution passed by the Board of Directors.
8. Others, if any (Please Specify).

Application for Claim of Interest Subsidy/ Capital Subsidy:

1. Copy of the first bill of supply/ invoice/ tax invoice for proof of commencement of commercial production, if applicable.
2. Copy of sanction letter of term loan issued by Bank/ Financial Institutions
3. Copy of Project Report duly authenticated by the applicant.
4. Chartered Accountant Certificate for Actual investment & Bank finance availed for Plant & Machinery and for Textile sector enterprise Chartered Accountant Certificate for Actual investment & Bank finance availed for Plant & Machinery as specified in the updated list of machinery under TUFS Scheme of Government of India. In case of expansion, Chartered Accountant certificate certifying details of existing investment and investment made in expansion.
5. Detailed expenditure statement of Plant & Machinery indicating mode of payment.
6. Project completion Certificate by Bank.
7. In the case of imported plant & machinery, submit separate expenditure statement mentioning new plant & machinery and second hand plant & machinery, with copy of invoices and copy of Bill of entry.
8. In the case of second hand Plant & Machinery, proof of the cost of the Plant and Machinery.

Note: Any financial transactions/expenditure statements submitted by the enterprise must be signed by the authorized signatory of the enterprise and certified by the chartered accountant.

Who is eligible for benefits under the Solar Equipments Sector?

Enterprises making investment of ₹10 crore or above in the Solar Equipments Sector are eligible.

What type of enterprises can apply under this sector?

Enterprises engaged in the Solar Equipments Sector can apply.

Is additional investment subsidy available under this sector?

Yes, 25% additional Investment Subsidy on State Tax Due and Deposited is available.



For how many years is the investment subsidy provided?

The investment subsidy is provided for a period of 7 years.



Is Employment Generation Subsidy available?

Yes, an additional Employment Generation Subsidy is available for eligible enterprises.

What is reimbursed under Employment Generation Subsidy?

The employer’s contribution towards EPF and ESI is reimbursed.



What is the maximum limit of Employment Generation Subsidy per employee?

The subsidy is subject to an upper limit of 75% per employee.



For how many years is Employment Generation Subsidy available?

The subsidy is available for a period of 7 years.

Is there any benefit related to electricity duty?

Yes, exemption from payment of Electricity Duty is available for an additional 3 years.

Is interest subsidy provided under the scheme?

Yes, interest subsidy on term loans is provided as an option.

What is the rate of interest subsidy?

Interest subsidy is provided at the rate of 5%.

What is the maximum amount of interest subsidy?

The interest subsidy is subject to a maximum of ₹25,00,000/- per year.

What alternative benefit is available instead of interest subsidy?

An enterprise may opt for capital subsidy on plant and machinery.

What is the maximum limit of capital subsidy?

The capital subsidy is subject to a maximum limit of ₹50,00,000/-.

Online - via CSCs

Mode of Online Application: e-Mitra

• The applicant can submit the online application by visiting the nearest e-Mitra center or by using their own e-Mitra account.

• The application is free of cost.

Exclusions

Investment not eligible for benefits of subsidies and/or exemptions under the Rajasthan Investment Promotion Scheme

• Investment for manufacturing tobacco, tobacco products and pan masala.
• Investment made in cow beef processing units.
• Investment made in retail/trading activities.
• Any activity which is prohibited by Central/State laws.

NA