State Act

The Himachal Pradesh State Aid to Industries Act, 1968

17. Form of State aid.-The forms of State aid which may be given may include the following, namely:- (a) the grant of a loon; (b) the grant, sale or lease on favourable terms, of land, raw material,water or any other property right vested in the State Government for the purposes of the State Government. (c) the guarantee to the cash credit, overdraft or fixed advance with a Bank; (d) the supply of machinery on the hire-purchase system; (e) the guarantee of a minimum return on the whole or part of the capital of a joint stock company for a period fixed in accordance with the rules made under this Act; (f) under-writing the issue of stock, shares, bonds or debentures by the limited joint stock company; (g) the acquisition of shares or debentures, provided that the amount paid by the State Government for such shares or debentures shall not exceed the amount already paid by another person or shares and debentures in the same industry; (h) the grant, free of charge, or on favourable terms, of the services of experts or persons in the service of the State Government or starting or advising an industry: (i) the payment of subsidy- (i) in the case of any large-scale or medium-scale industry for the conduct of research; (ii) in the case of any small-scale industry for one or more of the following purposes, namely:- (a) purchase of land, machinery and equipment; (b) the construction of factory building, godowns, water supply, ware-houses; (c) the making of technical improvements in the machinery in actual use in the industry; (d) the employment of sufficient managerial and supervisory personnel for a limited period; (e) the training of workers employed in the industries; (f) the conduct of research; and (g) supply of electric energy at concessional rate from a source which is the property of the State Government, in a manner prescribed in the rule.