UP govt. plans subsidy for Patanjali’s Rs 6,000 cr. food park project

TIL Desk/Business/Lucknow/ The Uttar Pradesh government will provide land subsidy to the proposed food park in Greater Noida being set up by Baba Ramdev promoted Patanjali Group. Patanjali is estimated to invest more than Rs 6,000 crore in the mega project spread over 91 acres of land in the National Capital Region (NCR).The decision was taken at the UP cabinet meeting chaired by chief minister Yogi Adityanath in Lucknow.

Subsidies granted to the company includes stamp duty rebate of 25 per cent. Earlier, the state government had given subsidy to Patanjali Ayurved Limited with regards to the setting up of the food park. However, 20 per cent of the total 455 acres of land allotted to Patanjali or 91 acres was later transferred to its subsidiary Patanjali Food and Herbal Park.

Now, the Adityanath government has given its nod to extend the same incentives to the subsidiary as well, which was earlier applicable to the parent company. The land transfer or subleasing would allow the Patanjali Group to set up the food processing facility and entitle it to other incentives under the central policy guidelines issued on July 21, 2016.