Dept starts giving approval to fiscal incentives for units

Tribune News Service

Ludhiana, May 23

Just after relaxing the daytime curfew and ensuring operationalisation of industries as per the MHA guidelines, the Department of Industries and Commerce has started approving fiscal incentives to various industrial units under The Industrial and Business Development Policy 2017 of the state government.

A meeting of district level committee to consider projects up to Rs10 crore, was held at the DC office under the Chairmanship of Deputy Commissioner, Ludhiana, Pradeep Kumar Agrawal, to consider cases for giving benefits such as electricity duty exemption and reimbursement of stamp duty to three units of Ludhiana.

While giving details, Agrawal said one of the major achievements of this policy was the simplified approval procedure of MSMEs. Now, all new and expansion/modernisation projects can apply on Business First Portal and get all regulatory and fiscal incentives online in a time-bound manner. The state government has recently notified an amendment whereby all projects up to Rs10 crores investments in plant and machinery are approved at the district-level committee which is headed by Deputy Commissioners of the districts.

Giving details Mahesh Khanna, GMDIC Ludhiana, said three cases were put up before the district level committee and were approved.

Upkar Singh Ahuja, president CICU, was present as representative from the industry along with all other officials from various departments as designated members of the district level committee.

Agrawal said this would surely boost the morale of the industry and more and more industries would come forward to seek the benefits of this scheme. The policy has multiple benefits as beside huge fiscal benefits the monitoring of applications is done by the highest authorities of the departments for the various clearances to be given on time.

Giving further details, he informed that in Ludhiana till date 335 applications of fresh investment and upgradation of existing units have been received on the portal under this policy. The Industries Department has provided a business facilitator at District Industries Centre to help the industrialists in regard to this policy. For any details, entrepreneurs can contact General Manager, District Industries Centre, Ludhiana.

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