Punjab Government on Monday promised the industrialists the moon and the stars without providing them with the means of reaching these.
Unveiling its new industrial policy on Monday after much delay, the State Government made the industrialists to wait a little more by presenting the policy without working out the mechanism.
The State Government has announced the incentives, but they are yet to lay down the procedures to avail the same.
Sources informed The Pioneer that Chief Minister Parkash Singh Badal had called up an urgent meeting on Sunday evening to discuss the industrial policy, which was to be put before the cabinet for its approval on Monday, following which it was to be announced.
Badal was reportedly annoyed as complete policy was not formulated. Sukhbir Badal, however, insisted to go ahead with presenting the policy for financial incentives for industrial development in the State, and convinced senior Badal to proceed with the announcement.
Even as Deputy Chief Minister termed the new policy for Fiscal Incentives for Industrial Promotion in Punjab as “comprehensive”, he, at the same time, admitted that the department is working on laying down the procedures and simplifying the same to avail incentives announced.
“Our main focus in this policy is on incentives, procedures, and facilitation. We are working on the procedure simplification. There is need to bring some changes in many departments,” said Sukhbir while presenting the policy.
Bringing all the processes and required permissions under one umbrella, the State Government would also provide a single window system.
“Unlike the earlier arrangement where a single window has hundred more windows. The single window system under this policy would actually be a single window where everything would be put together and made available online, we are working on that too,” said Sukhbir.
Sukhbir also maintained that a nodal department for facilitating the industrial units to get all sorts of permissions or clearances would be set up, that would do away with the various committees like empowered committee, screening committee for approving the project. “Now everything would be decided at one place,” said Sukhbir.
Sukhbir said that the further decisions to be included in the policy, including simplifying the procedures, would be taken in the following Cabinet meetings. All the remaining things regarding the policy would be laid down within two months, he added.
As Sukhbir boasted of having the “first-time-ever” VAT (value added tax) retention policy, “it would only be implemented after bringing amendments in the Value Added Tax Act,” said State Principal Secretary Industries, Karan Avtar Singh. The new policy has offered VAT retention up to 80 per cent in different categories of investments, areas, and sectors.