The six-month-old Suvendu Adhikari Government on Thursday unveiled its new industrial and investment policy for Bengal with investment incentives and employment generation prime on its focus.
Apart from large-scale units, strategic and mega industrial projects, the composite policy also targets micro, small and medium enterprises (MSMEs). This in addition to service sectors such as IT, healthcare, tourism, finance and education. In an apparent view to generate jobs the policy offers reimbursement of employers’ contributions to the Employees’ Provident Fund (EPF) where higher assistance for women and transgender workers would be offered. “Considering the fact that the MSMEs could prove to be the potential game changers,” such units would be given reimbursement of 100 per cent of the employer’s EPF contribution for women and transgender workers for 10 years. This, whereas, a reimbursement contribution of 50 per cent would be given for men.
While the large units and mega projects generating a minimum of 200 jobs in priority areas — or at least 400 jobs in other sectors would qualify for 50 per cent reimbursement for five years — service units with more than 200 workers will get reimbursement of 75 per cent for women and 50 per cent for men for five years. The scheme also offers a single-window clearance system with special provisions to fast-track major industrial projects requiring more than 100 acres.
Besides, the new policy will provide electricity tariff exemption for new investments in both the manufacturing and services sector for up to five years. The State will also provide financial assistance for rent on leased premises for setting up new units. The policy also proposes to provide easy and quick loans could be provided to MSMEs at affordable interest rates apart from giving technological backup for the newer investors. The financial assistance will be more in the case of new investment proposals in the industrially backward sub-divisions in the state. In case of mega projects, where 50 jobs will be created per acre, the state government will provide assistance in the construction of roads and ensuring water and electricity connections at the earliest. Insofar as land allocation and use rules are concerned, the policy lays stress on a structured, transparent land framework and stricter conditions on land use, meaning thereby that industries have to begin production within three years of receiving land.
Large units apart, MSMEs etc focus also have been given onagro-processing (leveraging local production of rice, potatoes, fish, and horticulture), traditional jewellery manufacturing, natural gas, food processing, and startups.
The new policy also offers to introduce a 100 per cent duty-free regime for educational institutions or hospitals, which would run from corporate social responsibility (CSR) corpus. However, in such cases, the company has to invest at least Rs 100 crore in education and health project.
Through the new policy, the Government also seeks to put special stress on comparatively less industrialised or economically undeveloped zones. Accordingly, the investors would be encouraged to invest in such areas.
Incidentally, the Chief Minister has already made a special appeal to the migrant workers to return to Bengal and join the new industrial drive of the “double engine government” even as he said, “the initiative of the double engine government will be to generate jobs so that Bengal returns to its old industrial glory … from present worker producing State to work providing state.”
Speaking on the barren land at aborted Singur industrial project where the Tatas Nano motor car plant fell victim to Trinamool Congress’ land movement before it came to power in 2011, Adhikari said his Government had plans to do something there. “Talks are on and we will do something at Singur,” he said.