BHUBANESWAR: With the State having huge potential for production of rice bran oil, Odisha government has asked the MSME department to assess the demand of the oil and availability of raw material for promotion of small and medium enterprises in this sector.
Chairing a high-level meeting, Chief Secretary Asit Tripathy said, “Since rice bran oil contains immune supporting nutrients and unsaturated fat, it can be developed into an attractive enterprise for young entrepreneurs.” He said proper assessment of the market demand and economy involved in the trade will be a reliable guide for the entrepreneurs.
Outlining the Covid response revised policies, MSME Principal Secretary Satyabrata Sahu said rice bran, once considered not of much use beyond cattle feed and fuel, is emerging as a boon for farmers because of popularisation of agri-technology initiatives by the government.
He said incentives like interest subsidy of five per cent per annum for five years on term loan from the date of commercial production, 75 per cent net SGST reimbursement for five years up to the limit of 100 per cent investment on plant and machinery, exemption of electricity duty up to contract demand of 500 KVA for five years, assistance for quality certification, employment cost subsidy and technical knowhow now available for the sector.
Director of Industries Reghu G said 12 rice bran units are operating in the State. Seven units are located in Bargarh district while two in Koraput and one each in Jajpur, Khurda and Balasore districts. A total amount of Rs 1,115.34 lakh incentive/subsidy has been provided to the eligible units.
Assistant director of Industries MM Patra said, “This type of enterprise is quite rewarding. Around 800 milligram of healthy edible oil can be extracted from the bran generated from one quintal of paddy”.