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PCS ParikshanMadhya Pradesh Switch to Hindi
New Policies Approved by Madhya Pradesh
Why in News?
The Madhya Pradesh Cabinet approved more than 10 policies related to various industrial sectors in the cabinet meeting held in Bhopal.
Key Points
- Key Policies:
- The state government has approved several policies to bring investment and increase employment opportunities in the state ahead of the hosting of the new Global Investors Summit (GIS).
- The cabinet approved the Industrial Promotion Policy-2025 to make the state developed and prosperous .
- Under this, 10 sector specific policies have been approved:
- Agriculture, Dairy and Food Processing Policy
- Textile Policy
- Apparel, Footwear, Toys, and Accessories Policy
- Aerospace and Defence Production Promotion Policy
- Pharmaceuticals Policy
- Biotechnology Policy
- Medical Device Policy
- EV Manufacturing Policy
- Renewable Energy Equipment Manufacturing Policy
- High Value-Add Manufacturer Policy
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- Objectives of Industrial Promotion Policy-2025 :
- Promote industrial development across the state.
- Raise the sector's share in GDP from Rs 2.9 lakh crore (2023-24) to Rs 6 lakh crore by 2030.
- Build a strong industrial ecosystem to attract investors.
- Promote environmentally sustainable and regionally balanced industrial development.
- Generate 20 lakh new jobs in the next five years, focusing on employment-intensive sectors.
- Streamline investor facilitation and simplify business processes.
- Investment-Based Incentives:
- Industries investing Rs 50 to Rs 150 crore will receive up to 40% incentives.
- Investments up to Rs 200 crore will receive 32% incentives along with additional concessions.
- Electricity Discounts:
- Investors will benefit from special discounts on electricity.
- Financial Support for Management & Infrastructure:
- Rs 10 crore will be provided for management support.
- Rs 5 crore will be allocated for infrastructure development.
