Bhubaneswar: Considering the potential for production of rice bran oil in the state, chief secretary Asit Kumar tripathy on Saturday directed the officials to asses its demand and availability of raw material for promotion of small and medium enterprises in this sector.
Chairing a high-level review meeting on virtual mode, here, Tripathy said, “Since rice bran oil contains immune supporting nutrients and unsaturated fat, it can be developed to an attractive enterprise for young entrepreneurs. Proper assessment of the market demand and economy involved in the trade will be a reliable guide for the young entrepreneurs.”
Outlining the COVID-19 response revised policies, Principal secretary, MS&ME Satyabrata Sahu said incentives like interest subsidy of 5% per annum for five years on term loan from the date of commercial production, 75% net SGST reimbursement for five years up to the limit of 100% investment on plant and machinery, exemption of electricity duty up to contract demand of 500 KVA for five years, assistance for quality certification, employment cost subsidy and technical knowhow are now available for the sector.
At present, there are 12 rice bran units are operating in the state, said director, Industries Reghu G. While seven are located in Bargarh district, two are in Koraput and one each is in Jajpur, Khurda and Balasore districts. A total amount of Rs 1,115.34 lakh incentive/subsidy has been provided to the eligible units, he added.
Assistant Director Industry MM Patra said, “This type of enterprise is quite rewarding. Around 800 milligram of healthy edible oil can be extracted from the bran generated from one quintal of paddy”. This oil is sold at higher price in market than that of the normal refine oil, he added.
Principal secretary, Finance Ashok Kumar Meena and additional director, Industry Saroj Hotta along with senior officers of departments concerned participated in the discussion.