Capital Investment Subsidy for Establishment of 500 or More Seater Convention Centre as Above cum Hotel under MICE

About This Scheme

The scheme "Capital Investment Subsidy for Establishment of 500 or More Seater Convention Centre as Above cum Hotel under MICE" was launched by the Department of Tourism, Government of Madhya Pradesh. The scheme aims to promote MICE (Meetings, Incentives, Conferences, and Exhibitions) tourism by encouraging the creation of large-scale convention infrastructure combined with hotels. The scheme provides a capital investment subsidy of 15% on the fixed capital investment, subject to a maximum ceiling of ₹10,00,00,000/-. The applicant must incur a minimum capital expenditure of ₹20,00,00,000/- as approved by the department to be eligible. The scheme is implemented by the Madhya Pradesh Tourism Board. The applications for this scheme are accepted online.

Eligibility

- The applicant must establish a tourism project that functions as a "Convention Centre cum Hotel under MICE". - The applicant must incur a minimum capital expenditure of ₹20,00,00,000/- (approved by the department). - The applicant must ensure the project conforms to the criteria and standards laid down by the Government of India for convention centers. - The applicant must ensure the seating capacity of the main convention hall, taken alone, is 500 seats or more. - The applicant must submit the application within one year from the date of commencement of operation.

Benefits

- The beneficiary receives a capital subsidy of 15% against the Fixed Capital Investment. - The maximum subsidy amount is capped at ₹10,00,00,000/-. ##### *Conditions* - _The unit must operate continuously for at least three years from the date of availing the subsidy._ - _The beneficiary must submit a self-declaration regarding the continuous operation of the unit on or before the 15th of April every year._ - _If the unit closes within 1 year of receipt, 80% of the subsidy must be refunded._ - _If the unit closes within 2 years of receipt, 60% of the subsidy must be refunded._ - _If the unit closes within 3 years of receipt, 50% of the subsidy must be refunded._

How to Apply

Where This Comes From

This scheme was sourced from myScheme, the Government of India's official Central+State scheme discovery portal, and reviewed by an editor before publishing. Use the button above to read the full details and apply directly on the official source.