Rajasthan Investment Promotion Scheme (RIPS) 2024: Boosting Economic Growth
| Summary/Static | Details |
|---|---|
| Why in the news? | The Rajasthan government launched RIPS 2024 to encourage private investment and boost economic growth. |
| Objective | To offer substantial financial incentives across multiple sectors to attract private investment. |
| Launch Timing | Introduced ahead of the 'Rising Rajasthan' Global Investment Summit 2024 (Dec 9-11, Jaipur). |
| Expanded Focus | Emerging sectors: Aero & Space, Defence, Drones, Semiconductors, Agri-Tech, Waste Recycling. |
| Additional sectors: Construction Equipment, Pumped Hydro Storage, Electrolyser Manufacturing, metals. | |
| Services: Higher Education, Knowledge-based industries, Vocational Training. | |
| Incentives for Specific Sectors | IT/ITeS companies, tourism businesses, women-led startups receive increased incentives. |
| Incentive Structure | First three mega/ultra-mega projects in sunrise sectors: 25% extra incentive on capital subsidies. |
| Businesses in new sectors: Additional 10% incentive above asset creation subsidy. | |
| Economic Goals | Signed investment MoUs worth ₹15 lakh crore under 'Rising Rajasthan' initiative. |
| Aims to establish Rajasthan as a prime investment destination. | |
| Static Points About Rajasthan | |
| Capital | Jaipur |
| Chief Minister | Bhajanlal Sharma |
| Governor | Haribhau Kishanrao Bagade |