MP IT Investment Promotion Policy 2023
The incentive scheme for investment in the Information Technology (IT) sector, Information Technology enabled services (ITes), Data Centre and Electronics System Design & Manufacturing (ESDM) sector in the state of Madhya Pradesh comes with the motive to encourage investments by creating ready to use IT/ ITes workspaces, plug & play infrastructure and promote use of co-working spaces. The scheme includes various incentives to the above mentioned sectors in the area of CAPEX, rental payment, interest payment, employment generation, marketing, quality certification, patent registration, stamp duty on purchase of land, testing, calibration, etc. This scheme is to promote and portray the MSME sectors and startups as a growth engine of the economy with the increased employment opportunities directly/ indirectly. Please refer to the attached PDF for details on the benefits available from this policy. Link for MP IT ITes Investment Promotion Policy 2023 https://www.mpsedc.mp.gov.in/contents.aspx?page=it-policy-2023&number=IL2wyyGehNIxLMUsqDn1yg==
Grant in Aid for Food Processing Industries by MOFPI
The Ministry of Food Processing Industries (MOFPI) in India is responsible for formulating and implementing policies and plans to promote the food processing industry. Their primary aims include stimulating sector growth, increasing farmers' income, and generating employment opportunities. Recently, MOFPI issued an Expression of Interest (EOI) for the Food Processing Sector as part of the Pradhan Mantri Kisan SAMPADA Yojana (PMKSY), a government initiative designed to strengthen the food processing industry. SAMPADA, which stands for "Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters," focuses on key objectives such as reducing post-harvest losses, enhancing supply chain management, and providing substantial support to the food processing sector. Following are the benefits made available to the entities 1. Creation of Infrastructure for the Agro Processing Cluster - Quantum of benefit available under the scheme: 35% to 50% of the eligible project cost subject to a maximum of Rs. 10.00 Crore. 2. Creation/Expansion for Food Processing & Preservation Capacities - Quantum of benefit available under the scheme: 35% to 50% of the eligible project cost subject to a maximum of Rs. 5.00 Crore. 3. Integrated Cold Chain and Value Addition Infrastructure - Quantum of benefit available under the scheme: 35% to 50% of the eligible project cost subject to a maximum of Rs. 10.00 Crore. 4. Setting up/Upgradation of Food Testing Laboratories - Quantum of benefit available under the scheme: 50% to 70% of the eligible project cost. There is no ceiling on the maximum amount of benefit. Further benefit for Technical Civil Works and Furniture & Fixtures Cost, 2% of eligible cost or 15.00 Lakhs whichever is lower. 5. Operation Greens- Long-Term Intervention - Quantum of benefit available under the scheme: 35% to 50% of the eligible project cost subject to a maximum of Rs. 15.00 Crore. For further details, refer the PDF File Attached.
Session on Valuations by Er. Arvind Agrawal
On July 22, 2023, ASCO Capital hosted an enlightening session on Land Valuation, conducted by the esteemed speaker, Er. Arvind Agrawal. With his impressive credentials as a Chartered Engineer, Registered Valuer, and Insolvency Professional, Mr. Agrawal shared profound insights with the gathering. During the session, Mr. Agrawal delved into the fundamental concepts of Valuation, particularly focusing on Cost Price and Value. He adeptly explained the methodology to determine the market value of assets, providing the audience with valuable knowledge. The speaker emphasized the importance of understanding various types of values, including Market Value, Distress Sale Value, Forced Sale Value, Government Value, and Net Present Value, among others. This comprehensive discussion broadened the attendees' understanding of different valuation scenarios. Another significant aspect covered by Mr. Agrawal was the valuation of Leasehold properties for both Lesser and Lessee, shedding light on the complexities and nuances involved in such assessments. Furthermore, the session touched upon the TNCP Act, which pertains to Town and Country Planning, offering practical insights and real-life implications of the Act. The interactive nature of the event made it even more enriching, as the audience actively participated, showering the speaker with insightful questions. Overall, the session on Land Valuation by Er. Arvind Agrawal proved to be an invaluable learning experience, leaving the attendees empowered with knowledge to make informed decisions in the realm of valuation and property assessment.
Union Budget 2023 Live Session
On February 1st, 2023, ASCO Capital hosted a highly anticipated and enlightening Live Budget Session at its premises. The event featured renowned financial experts, CA Anand Saklecha and CA Manoj Gupta, who provided valuable insights and analysis as the Union Budget was being live presented by the Finance Minister, Nirmala Sitharaman. The session commenced with an atmosphere of anticipation and excitement as attendees eagerly awaited the unveiling of the annual budget. CA Anand Saklecha, known for his profound knowledge in finance and taxation, began the discussion by analyzing the budget's key highlights and implications on various sectors of the economy. Joining him was CA Manoj Gupta, a seasoned expert with deep expertise in economic trends and financial markets. Together, they navigated the intricacies of the budget, discussing its potential impact on investments, businesses, and individual taxpayers. Throughout the event, attendees were engaged in interactive discussions, posing pertinent questions to the speakers as the budget presentation unfolded. The financial experts offered real-time analysis, helping the audience comprehend the implications of the proposed policies and reforms. The Live Budget Session proved to be a valuable learning experience for the participants, providing them with invaluable insights to make informed financial decisions. Attendees left the event empowered with a comprehensive understanding of the budget's implications and armed with knowledge to navigate the changing economic landscape. ASCO Capital's commitment to keeping its clients and associates informed about crucial economic developments was evident through this event. The session reaffirmed the company's dedication to empowering stakeholders with knowledge and expertise to succeed in their financial endeavors. Overall, the Live Budget Session was a resounding success, thanks to the expertise and guidance of CA Anand Saklecha and CA Manoj Gupta, who left a lasting impact on the audience with their insightful analysis and profound understanding of the budgetary proceedings.
Tree Plantation Drive
On July 2nd, 2023, ASCO Capital organized a remarkable tree plantation drive at Shakkarbag, demonstrating our commitment to environmental sustainability and community engagement. With enthusiasm and dedication, our staff actively participated in the event, joining hands to plant a multitude of trees in the nearby village. The initiative aimed to contribute to the conservation of the environment, promote ecological balance, and enhance the green cover in the region. Asco Capital's team members, equipped with saplings and gardening tools, worked together to create a positive impact on the local ecosystem. The tree plantation drive not only showcased our company's concern for the environment but also fostered a sense of responsibility towards the community. By partnering with the nearby village, we sought to nurture a strong bond and encourage a sustainable approach to safeguarding nature for future generations. Through this meaningful endeavor, ASCO Capital not only made a tangible difference in the environment but also set an example for others to follow, inspiring further acts of environmental consciousness and social responsibility within our organization and beyond.
On the evening of April 2nd, 2023, ASCO Capital hosted a mesmerizing cultural event that brought our incredible team together for a night of pure joy and celebration. The event, held at our Indore premises, highlighted our commitment to fostering a vibrant and engaging work environment. From the moment our staff arrived, they were greeted with warm smiles and refreshing welcome drinks, along with delectable snacks. In-house musicians set the stage with soulful tunes, creating an atmosphere of excitement for an unforgettable evening. The entertainment reached new heights with a thrilling round of Running Antakshari, where competitive spirits were on full display. During tea/coffee breaks, colleagues mingled, sharing memorable stories and fostering camaraderie. The evening's highlight was group games that challenged teams to work together, promoting unity and teamwork. The energy soared when the dance floor opened, and our talented DJ had everyone grooving to their favorite beats. As the clock neared 9 PM, the festivities culminated in a lavish Laziz dinner that delighted everyone's taste buds. The event reflected the hard work and dedication of our team, reaffirming our commitment to creating a harmonious and enjoyable work environment. We extend our heartfelt gratitude to Mr. Anand Saklecha for conceiving this remarkable event and our talented team members, Sneh, Aastha, Divyanshi, and Manuraj, who meticulously designed and executed the evening's proceedings with dedication and creativity. ASCO Capital takes immense pride in the spirit and enthusiasm displayed by our team during this cultural extravaganza. Such events reaffirm our commitment to fostering a positive and engaging workplace where every member feels valued and cherished.
Startup India Schemes
The Startup India initiative, launched by the Government of India, is a flagship program designed to nurture innovation, promote entrepreneurship, and create a conducive environment for startups to flourish. This scheme offers a plethora of benefits to startup founders, including financial incentives, ease of compliance, and access to a vast network of resources. Through various policies and incentives, the government aims to foster a thriving ecosystem for startups across the country, empowering them to transform innovative ideas into successful businesses. For comprehensive details on the various schemes under Startup India, including sector-wise and ministry-wise breakdowns, please refer to the attached PDF. This document provides an extensive overview of the support mechanisms and opportunities available for startups, ensuring that entrepreneurs can explore the specific schemes that align with their ventures and ambitions.