The Industrial Policy, 2009, which was cleared by the Punjab Cabinet on Tuesday aims to attract big investments to the cash-strapped state. Mega anchor industries that have scope for ancillary units will be given special concessions by the state government, in line with the concessions extended to the Bathinda refinery project. In another major relief to the industry, the state government has removed the change of land use charges and licence fee for shifting from agriculture to industry.
Industry and commerce minister Manoranjan Kalia said, ?Our policy promises concessions, simplification of procedure and aims at attracting investments in the private sector under the public-private partnership model. A big thrust has been given to IT/ ITES and agro-based industry. We have also paid special attention to revival of sick industry. The scheme of concessions to sick small scale units has been extended.?
Talking about the incentives to be given to IT industry, the minister said, ?IT parks will have permissible floor area ratio (FAR) of 300% on the gross area of the project. IT units will be allowed to set up their campuses in residential, commercial, institutional, industrial and agriculture use zones notified under the master plan. IT parks will be exempted from statutory power cuts, restriction of peak load hours and weekly off power cuts. Besides, 100% stamp duty exemption is offered (first sale transaction) on purchase and lease of built office space within an IT park. Power will be charged at industrial rate irrespective of their location and zoning.
The IT industry will be exempt from Punjab Pollution Control Board clearances and exemption from inspection under various labour laws. There will be electricity duty exemption to captive power units installed by IT units and IT knowledge units will get exemption from electricity duty for five years.
To promote agro-based industry, the state government has set aside Rs 86.5 crore to offer subsidy and other concessions to agro-based industry. The state government has allowed all agro units to purchase agricultural products directly from farmers. Dwelling on the policy, the minister pointed out that a dedicated fund of Rs 150 crore per annum will be kept for creation and upliftment of industrial infrastructure. In another relief to industry, VAT refund will be done in 60 days instead of 90 days and interest will be given on refund if it exceeds period of 60 days.
Interestingly, hotel projects including restaurants, amusement parks, heritage hotels, holiday resorts, health spas, eco resorts and golf resorts where lodging is provided will be given the status of industry and will get the concessions as admissible to industry. Farm tourism spots, bed and breakfast accommodations and tented accommodation will be levied water supply and power charges at domestic rates.