The State Government is all set to revise its Industrial Policy Resolution (IPR) 2007 and is contemplating to put in place a more comprehensive IPR 2014 with provision of incentive packages for the upcoming industries.
A draft committee formed for the purpose under the aegis of industry department recently met to discuss the approach and methodology presented jointly by the State Government, DFID, Technical Assistance Supporting Team (TAST) and Project Management Unit (PMU).
Industries secretary
Vishal K Dev chaired the meeting where industrial policies of 13 States and proposed incentive packages for IPR 2014 were discussed.
Though first-round consultations with various stakeholder departments and agencies were conducted, there are still a few departments to provide their views, sources said.
The draft committee has decided to revise the land allotment procedures. The IDCO Act will be amended, sources added.
Besides, concessional rate for providing land to industrial units, they would not be linked to benchmark valuation rate as it is not practical to ascertain value of individual plots in an industrial area. Thus concessional rates for industrial units in A, B, C and D zones may be left to the working group on land chaired by the director of industries to ascertain.
The draft also considers incentives for all tourism and hospitality projects, including hotels. This apart, the draft also considers interest subsidy rate of 10 per cent per on term loans for a period of five years for the new industrial units coming under MSME and priority
sectors.
The most important point the IPR 2014 is mulling to incorporate is that employment cost subsidy would be provided in case of regular employments only, not for contractual ones. The project displaced people will be benefited from this subsidy, sources added.
The draft committee has advised OMEGA, TAST, PMU and IPICOl to complete the interactions with the remaining departments and send the final draft of IPR 2014 soon. On receipt of the draft the the panel will meet to prepare the final draft, which would be submitted to the core committee for approval.