HP 5% Interest Subvention for IT, ITeS, ESDM & Data Centres

The Interest Subvention Scheme is an incentive offered under the Himachal Pradesh Government's IT, ITeS, ESDM Policy 2019. It provides a subsidy on the interest payable on term loans taken by eligible enterprises.

The scheme applies to IT, ITeS (Information Technology Enabled Services), ESDM (Electronic System Design and Manufacturing) enterprises and Green Data Centres operating in Himachal Pradesh. By lowering the cost of borrowing, it seeks to ease the financial burden on enterprises in these technology sectors.

The stated objectives are to encourage investment, support job creation and develop the state's technological landscape.

- Enterprises that wish to apply should consult the official IT, ITeS, ESDM Policy 2019 along with the Incentives Guide, which set out the application procedure in detail. - The application is ordinarily filed with the government department in Himachal Pradesh that administers this policy. - Documents generally sought include evidence of enterprise registration, loan sanction letters, interest payment statements, and any further forms prescribed under the policy guidelines. - Each submission is assessed against the eligibility criteria laid down in the policy. - Once approved, the interest subvention is released in accordance with the scheme's terms and conditions, usually by way of reimbursement or by adjustment against interest payable.