The Rajasthan MSME Policy 2024 offers a comprehensive support system for the service sector, including both startups and existing businesses. Recognizing that services contributed nearly 44% to Rajasthan’s GSDP in 2022–23, the policy channels robust support to new and expanding service enterprises, fostering a dynamic environment for entrepreneurship.
Whether you're a new service startup, a scaling SaaS company, or an established professional service firm, this policy opens the door to substantial support in Rajasthan to promote innovation, job creation, and sustainable development, this policy empowers service-oriented enterprises with financial incentives, regulatory ease, and growth opportunities.
Key Highlights of Rajasthan MSME Policy 2024 for the Service Sector
Coverage and Eligibility
The policy applies to both new and existing service sector enterprises making fresh investments, expansions, or acquiring assets under liquidation (NCLT orders) with proper additional investment.
Eligible service areas include:
- Healthcare
- IT & ITeS
- Fintech
- Tourism
- Entertainment and AVGC-XR (Animation, Visual Effects, Gaming, Comics, XR)
- Film City/Film Production
- Civil Aviation
- Knowledge-based industries
- Common Utility Centers
- Sports Academies
- Higher Education & Vocational Training
- Plug and Play Office Complexes
- Social Infrastructure
Tax and Financial Incentives
- 75% SGST Reimbursement for 10 years to reduce operating costs.
- Capital Investment Subsidy:
- Up to ₹40 lakhs for eligible service enterprises.
- ₹1.5 crore for agro-based service units.
- Interest Subsidy on Loans:
- 6% for loans ≤ ₹5 crore
- 4% for ₹5–10 crore
- 3% for ₹10–50 crore
- Extra subsidies for women, youth, SC/ST entrepreneurs, and businesses in backward regions.
Startup and Innovation Support
The policy promotes a startup-friendly ecosystem with tools to foster innovation:
- Technology Acquisition Grant: Up to ₹5 lakhs reimbursement for approved tech investments.
- Digital Enablement Subsidy: 75% of costs (max ₹50,000) for e-commerce platforms, tools, and hardware.
- SME IPO Support: ₹15 lakhs grant for listing on NSE/BSE SME exchange.
Ease of Doing Business
Rajasthan ensures a business-friendly environment through simplified regulatory processes:
- Single Window Clearance (SWCS): Integrated approvals across 135+ services.
- 5-Year NOC-Free Operation under MSME Facilitation Act.
- Exemptions:
- Electricity Duty
- Stamp Duty
- Land Conversion Charges
- Mandi Fees
Green & Sustainable Growth Support
- Green Infrastructure Subsidy: 50% reimbursement up to ₹1 crore for water, energy, and waste systems.
- Clean-Tech Equipment Support: 10% subsidy on eco-friendly machines and systems.
Workforce & Skill Development
- Skill Development Reimbursement: 50% of monthly training cost (up to ₹40,000/month).
- Applicable for employee upskilling in technical, managerial, or digital skills.
Location-Based Boost for Service Businesses
The policy prioritizes inclusive growth by offering additional benefits for:
- Businesses in backward districts
- ODOP-linked services
- Enterprises led by SC/ST, women, youth entrepreneurs
How to Avail the Benefits?
Follow these steps to access benefits under the Rajasthan MSME Policy 2024:
- Apply online: Register on the RIPS 2024 Portal with business/project details.
- Prepare proactively: Submit necessary documents: Udyam Registration, loan sanction, tax details, etc.
- Apply for relevant incentives: interest subsidy, digital subsidy, IPO support, etc.
- Partner smartly: Explore opportunities to join government or private sector clusters for collective benefits.
- Stay engaged: Track approvals via the District Industries Centre (DIC) or Bureau of Investment Promotion (BIP).
Final Thoughts
The Rajasthan MSME Policy 2024 is a strategic initiative that supports service-based startups and existing enterprises in building scalable, competitive, and sustainable businesses. This policy provides one of the broadest and most integrated support environments for service sector growth in India. With a strong focus on financial relief, market expansion, and technological advancement, this is the ideal time to register and grow your service business in Rajasthan.
Don’t wait - leverage these initiatives to scale smarter, compete better, and grow sustainably. Having any query, consult NOW with our Odoo Expert Accounting Team 👇
Schedule a Free Appointment Now