India faces a critical challenge with water scarcity, prompting industries to adopt conscientious water management practices. The Indian government acknowledges the urgency of this matter and provides a range of incentives for factories investing in water treatment plants. These incentives are part of various schemes and initiatives, each tailored to drive sustainable industrial growth.
Financial incentives for installing water treatment plant:
Capital Subsidies:
As part of the Swachh Bharat Abhiyan (Clean India Mission), MSMEs can secure financial assistance ranging from 25% to 70% of the total project cost for setting up wastewater treatment plants.
Interest Subsidies:
The Ministry of MSME extends a 2% interest subsidy on loans up to Rs. 1 crore, facilitating the installation of water treatment plants by MSMEs.
Tax Benefits:
Companies can leverage Section 35AD of the Income Tax Act, allowing them to claim deductions and deduct 100% of the expenditure on wastewater treatment plants from their taxable income.
Accelerated Depreciation:
Firms are eligible to claim accelerated depreciation on the cost of the water treatment plant, aiding in a swifter recovery of the investment.
Non-financial incentives for installing water treatment plant:
Ease of Approvals:
The government has streamlined the process of acquiring permits and licenses for water treatment plants, presenting a dual benefit of time and cost savings for businesses.
Land Allocation:
Industrial parks and special economic zones extend preferential land allocation or rebates for companies installing water treatment plants.
Capacity Building:
The government provides various training and awareness programs on water management and wastewater treatment technologies. This can help businesses improve their water efficiency and comply with environmental regulations.
Recognition and Awards:
Companies embracing sustainable water management practices receive recognition and awards, fostering brand acknowledgment and providing valuable marketing opportunities.
Specific Schemes:
Centrally Sponsored Scheme on Rural Drinking Water and Sanitation:
Grants are allocated to states and Union Territories for establishing water treatment plants in rural areas.
National Mission on Clean Ganga:
This scheme extends financial and technical support to industries for setting up wastewater treatment plants, and contributing to the cleanup of the Ganga River and its tributaries.
Zero Liquid Discharge (ZLD) Policy:
This policy encourages industries to adopt technologies that minimize wastewater generation and maximize water reuse. Companies that comply with the ZLD policy are eligible for various incentives.
The diverse array of incentives provided by the Indian government acts as a potent catalyst for industries contemplating water treatment plant installations. By seizing these opportunities, businesses not only contribute to environmental sustainability but also position themselves as leaders in responsible and forward-thinking industrial practices
If you are interested to know more about water treatment solutions for commercial and industrial settings, contact Meridian Micro Technology experts at +91-9811561063 or you can send an email to meridianmicro05@gmail.com.