Chhattisgarh Cabinet Approves New Industrial Policy 2014-19

The Chhattisgarh cabinet Friday endorsed new industrial policy for 2014-19 at a meeting chaired by Chief Minister Raman Singh. Briefing media persons about the cabinet decisions, Singh said that the policy includes the provision of subsidy worth Rs.5 crore for establishing an industrial park in the private sector. Provision of establishing ‘Land Bank’ of over 10,000 hectares for various industries has also been included in the policy, he added.

Moreover, to promote bicycle manufacturing, pharmaceuticals, electronic products, textile industries etc, these industries will be included as “priority” in the new policy. The prescribed limit for mega project will be reduced for these industries, so that they may get its benefits on lesser investment, he said. Under the new industrial policy, the Chief Minister Cluster Development Scheme will be initiated, under which the state government will provide Rs.50 lakh as subsidy.

Singh said that on the lines of ‘Make in India’ concept, the state will implement ‘Make in Chhattisgarh’ policy under which manufacturing units of the related industries will be promoted with priority. The domiciles of Chhattisgarh will be encouraged to set up their own enterprises and they will also be provided better employment opportunities. Capital investment in the state will be promoted by making industry competitive in comparison to other states. (IANS)