Lawgist.Download the App Now!
Get our Android app for fast and offline Access.
(1) A Regional Development Authority may, for any economic activity in the Special Investment Region or for any infrastructure project as per the existing policy of the State Government, propose a customized package after getting it examined by the concerned departments of the State Government for approval of the Board. (2) The Board, on being satisfied with the proposal, may, with or without any modification, recommend the package and send it to the State Government for approval. (3) Such customized package may provide for incentive in the form of exemptions from State taxes, duties, cess, etc. levied by the State Government under any Rajasthan Law. (4) In order to make any infrastructure project sustainable or commercially viable, a Regional Development Authority may propose to the Board for consideration and approval and the Board may, on being satisfied with the proposal, recommend to the State Government to sanction and provide State support which may include, - (a) equity participation subject to a maximum of forty nine per cent of the total equity; (b) financial assistance which may include capital grant, minimum revenue guarantee, payment guarantee and off take and purchase guarantees to the concessionaire as a substitute for or in addition to whole or part of the charges collected for such infrastructure project; (c) incentives in form of exemptions from State taxes, duties, cess, etc. levied by the State Government under any Rajasthan Law; (d) guarantees with respect to any obligation of the State Government under a concession agreement; or (e) any other State support which may be notified from time to time by the State Government in the Official Gazette: Provided that the ceiling of forty nine per cent equity participation under clause (a) shall not be applicable in the case of companies promoted by a Regional Development Authority pursuant to any joint venture or collaboration agreement with any government agency or any company, body or any other institution by whatever name called, owned or controlled by the Central Government.
(1) A Regional Development Authority may, for any economic activity in the Special Investment Region or for any infrastructure project as per the existing policy of the State Government, propose a customized package after getting it examined by the concerned departments of the State Government for approval of the Board.<br> (2) The Board, on being satisfied with the proposal, may, with or without any modification, recommend the package and send it to the State Government for approval.<br> (3) Such customized package may provide for incentive in the form of exemptions from State taxes, duties, cess, etc. levied by the State Government under any Rajasthan Law.<br> (4) In order to make any infrastructure project sustainable or commercially viable, a Regional Development Authority may propose to the Board for consideration and approval and the Board may, on being satisfied with the proposal, recommend to the State Government to sanction and provide State support which may include, -<br> (a) equity participation subject to a maximum of forty nine per cent of the total equity;<br> (b) financial assistance which may include capital grant, minimum revenue guarantee, payment guarantee and off take and purchase guarantees to the concessionaire as a substitute for or in addition to whole or part of the charges collected for such infrastructure project;<br> (c) incentives in form of exemptions from State taxes, duties, cess, etc. levied by the State Government under any Rajasthan Law;<br> (d) guarantees with respect to any obligation of the State Government under a concession agreement; or<br> (e) any other State support which may be notified from time to time by the State Government in the Official Gazette:<br> Provided that the ceiling of forty nine per cent equity participation under clause (a) shall not be applicable in the case of companies promoted by a Regional Development Authority pursuant to any joint venture or collaboration agreement with any government agency or any company, body or any other institution by whatever name called, owned or controlled by the Central Government.<br>