Chhattisgarh

• 12 Apr 2023

Investment Promotion Policy for Sick and Closed Industries and State Logistics Policy Implemented for Industrial and Commercial Development

Why in News?

According to the information given by Chhattisgarh Public Relations Department on 10 April 2023, the state government has implemented an investment promotion policy for sick & closed industries and a state logistics policy for industrial & commercial development.

Key Points

• Taking important steps for the development of industries, the state government has implemented a new policy for closed & sick industries in Chhattisgarh. This will encourage closed & sick industries and they will be able to operate in a better way.
• Along with this, with the help of the logistics policy implemented by the Government of Chhattisgarh, along with the increase in exports, processing & storage of agricultural and other products will be encouraged.
• Chhattisgarh State Logistics Policy-2022
  • Chhattisgarh State Logistics Policy-2022 (01 November 2019 to 31 October 2024) has been implemented to promote industrial development as well as commercial development in the state, encourage agriculture in remote areas, increase the contribution of the state in the total exports of the country, proper exploitation of mineral wealth available in the state, encouraging agriculture in remote areas including processing, storage of grains and other products.
  • Under this policy, the establishment of logistics, warehouse, cold storage, sole proprietorship, partnership, company, limited liability partnership, cooperative society, Hindu undivided family, self-help group and farmer producer organization are eligible for industrial investment incentives.
  • Under this policy, up to 35-55 percent of the fixed capital investment made in the enterprises, fixed capital investment grant up to Rs.35-350 lakh, interest subsidy up to 50-60 percent, up to Rs.10-55 lakh for starting commercial production. There is a provision for full exemption from electricity duty, exemption from stamp duty and grant of transport vehicle for 5-8 years from date.
• Chhattisgarh special investment promotion policy for closed & sick industries
  • At present, industries have been established in the state in industrial areas and outside industrial areas as well. Due to various types of problems associated with the speedy pace with which industries are being established in the state, some of these established industries have become sick and even closed.
  • Chhattisgarh Special Investment Promotion Policy 2019 has been implemented for closed & sick industries with the aim of re-operating these sick & closed industries and creating employment opportunities again.
  • Under this, there is a provision to provide an exemption from stamp duty, complete exemption from registration fee, interest subsidy, permanent capital investment grant, project report grant, quality certification grant, technical patent grant, under rehabilitation and re-operation package of sick & closed industries, technology purchase grant, disabled grant, exemption from electricity duty, exemption from payment of entry tax and exemption from the market fee.