Tuesday, October 15, 2019

Posted at: Jul 11, 2019, 7:11 AM; last updated: Jul 11, 2019, 7:17 AM (IST)

New industrial policy promising sops awaits notification of rules

It is supposed to give a major boost to industrialisation in the state
New industrial policy promising sops awaits notification of rules

Ambika Sharma

Tribune News Service

Solan, July 10

The new industrial policy promising a slew of sops to lure investors was awaiting notification of rules and procedural guidelines as several new provisions have been introduced for the first time by the state government.

The policy, which was notified by the state Cabinet last month, is supposed to give a major boost to industrialisation in the state as no Central incentives were available to the industry after lapse of the 2003 Central incentives package.

The state government had notified the last industrial policy in 2004 though it was amended in 2009, 2015 and 2017. The need to chalk out a new policy has become imperative as the state government was keen on luring investors through series of investor meets which it was holding across the globe.

Key incentives like concessional rate of stamp duty and registration fee, exemption from the payment of change of land use charges, interest subvention, transport subsidy, assistance for access to quality certification, compliances related to environment, health and safety standards, etc., have been introduced in the policy. These would be governed by specific rules and guidelines which were being finalised and would be sent to the law department soon informed an official of the Industries Department (ID).

With thrust on alluring industry to the category B areas which comprise industrially developing areas away from the bordering areas, the new policy was supposed to address the problem of unemployment as the 8.66 lakh unemployed youth were registered in the employment exchanges.

The policy has given thrust on self-certification, digitalisation of all clearances in a time-bound manner to further the ease of doing initiative and investors were keenly awaiting its notification.

“Since the industry has few central incentives in the state, the new industrial policy providing various state-level incentives was keenly awaited. It will also provide ample scope for the existing industry to expand their business”, said Sanjay Khurana, vice president, Baddi Barotiwala Nalagarh Industries Association.

The state currently has 49,532 small scale and 689 medium and large scale industrial units with a total investment of Rs 35,449 crore.


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