Financial Services
Market Overview
Rajasthan is known to produce proficient and skilled finance and accounts professionals in large numbers. The presence of renowned establishments in the sector in Rajasthan has positioned the State as a chosen destination for financial services.
The financial sector in Rajasthan includes services like broking firms, investment services, financial consulting, national banks, private banks, mutual funds, car and home loans, equity market and other banking services. Financial services have grown immensely in the state in the last few years.
Key Segments/ Products
- Banking
- Insurance
- Mutual fund
Key Players
Policy/ Incentives
Under Rajasthan Industrial and Investment Policy 2010
- Various subsidies available such as
- Up to 50% of VAT, CST or SGST deposit
- Employment Generation Subsidies
- Subsidies for MSMEs
- Exemption from payment of various taxes
- 100% of Luxury Tax
- 50% of Entertainment tax, Electricity Duty , Mandi fee, Land Tax
- 50% Exemption from Stamp duty on purchase/lease of land and construction such land.
- 50% exemption from conversion charges
- Policy package for Micro, Small and Medium Enterprises 2008
- RIICO provide land at 50% of DLC rates
- Re-imbursement of expenses incurred towards filing/sharing patents/ ISO certifications.
Opportunities
Rajasthan offers numerous opportunities in the Finance and Accounting (F&A) solutions. The State has a vast potential human resource base with an inherent penchant for accounting and finance. The state has proficient and skilled finance and accounts professionals in large numbers from renowned institutions and establishments.
Advantages / Strengths
- Strong problem solving and analytical skills, a large number of the total finance professionals from India such as Chartered Accountants, ICWAs and Company Secretaries are from Rajasthan.
- Favorable policies and incentives are in place
- Investor-friendly environment