Punjab Government’s policy of promoting industries and commerce is a boon

The Fact News Service
Fazilka, April 8
Under the Industrial and Trade Development Policy 2017 implemented by the Punjab Chief Minister Capt. Amarinder Singh-led government for industrial development in the state, online approvals for setting up of new industries and approval of fiscal incentives are proving to be a boon for new/old units. . This information was given by the Deputy Commissioner of the district Arvind Pal Singh Sandhu. He said that during the year 2020-21, 13 industrial units of District Fazilka would be exempted from 100% electricity tax for 10 years, all taxes and fees to be paid for procurement of raw material for food processing units would be deducted from FC for 10 years. Fiscal incentives of up to 100 per cent exemption (442 million), 100 per cent reimbursement of stamp duty have been sanctioned and at least 650 persons have been employed in these units. Apart from this a border zone of 30 kms from the International Border Boundary has been declared in which exemption from CLU, 100 percent exemption from EDC charge etc. has been given. General Manager, District Industries Center, Sushma Kumari said that the official team has been holding meetings with the industrialists from time to time to provide information about the Industrial and Trade Development Policy 2017 and to motivate the people to set up more and more industries. Under this policy, there is ample scope for setting up of new industries in District Fazilka. The setting up of new industries would create employment opportunities for the people of the district. The Punjab Government has set up an online portal www.pbindustries.gov.in under the Industrial and Trade Development Policy 2017 to promote industries in the state. It provides facilities to new and existing investors, regulatory approvals and financial incentives and investor trackers. Sushma Kumari, General Manager, District Industries Center said that F.C.I. 100 percent reimbursement of net GST incentive for 7 years up to 100 percent, women in border districts, Kandi areas and state / SC. Entrepreneurs get 5% interest subsidy for three years per annum up to Rs. 10 lakh per annum, 100% exemption from electricity tax for 7 years, 100% exemption/reimbursement from stamp duty, finance, technology, infrastructure, marketing and export. Assistance is provided. He further said that in border areas exemption from CLU, 100 percent exemption from EDC charge, 75 percent exemption from all taxes and fees levied on the first unit in the state. He also invited the people interested in setting up new industries to avail the benefits of Invest Punjab Portal.