The special early bird initiative provision made in the Industrial Policy of 2019-24 for establishing a unit and producing bio-ethanol within six months of signing of MoU has been replaced with 18 months.
The period to establish on leased land for industries has been extended by a year, as per a cabinet decision taken on Thursday.
According to an official statement, the cabinet meeting chaired by Chhattisgarh Chief Minister Bhupesh Baghel took 19 decisions.
The others include a special package for start-ups by Scheduled Tribe and Scheduled Caste people. Along with micro-industries, small and medium industries will get the benefit of fixed capital investment grants.
The core industries in the state will be eligible for exemption in paying electricity money.
It has been decided to provide a special investment promotion package for establishment of steel (sponge iron and steel) mega and ultra-mega projects.
For mega investors, the maximum package is Rs 500 crore while for Bastar division it is Rs 1,000 crore. The proposed units should commence commercial production by October 31, 2024 or before.
The new units commencing production will get the benefit of Economic Investment Promotion only if Rs 100 crore is under fixed capital investment head.
The cabinet cleared for establishment of the State level Appeal Forum and implementation of four schemes under the Chhattisgarh State Food Processing Mission before October 31, 2024.
Similarly, to promote agriculture based rural industries, special priority will be given to individual title holders of land under the Forest Rights Act including villages under community and forest resources rights.