Team News Riveting
Raipur, October 28
The Chhattisgarh cabinet on Monday put its stamp on the new industrial policy that will come into effect from November 1.
“The draft and proposal of Chhattisgarh State’s New Industrial Development Policy 2024-29 has been approved by the Council of Ministers. The new industrial development policy will be effective from November 1 2024 and will continue till October 31, 2030,” a state government spokesperson said after the cabinet meeting that was chaired by Chief Minister Vishnu Deo Sai.
Provisions have been made in the policy to realize the vision of Amritkal Chhattisgarh Vision@2047, the spokesperson said, adding that the policy will set up a new dimension of industrial development in the state. “In the new industrial policy, the amendment made by the Government of India in the year 2020 in the MSMED Act-2006 in the definition of micro, small, medium and large-scale industries have been adopted and special provision has been made to provide incentives for industrial development for balanced development in the state,” the spokesperson said.
To meet the objectives of the New Industrial Policy 2024-29, industrial investment incentives will be provided for establishment, expansion, diversification, replacement and other activities of new enterprises in the state. In order to fulfil the goal of comprehensive industrial development in all areas of the state, the amount of industrial investment incentives to be given by dividing the development sections of all districts into three zones will also be determined.
In the New Industrial Development Policy, core sector products such as steel, cement, thermal power and aluminium have been divided into thrust and general industries keeping in mind the requirements of the state and separate provisions have been made. Attractive industrial investment incentives have been provided for pharmaceutical, textile, food processing, agricultural product protection, NTFP processing, electronic products, IT and ITES etc, the spokesperson said.
Draft of Amritkal Chhattisgarh Vision@2047 vision document was approved at the cabinet meeting. In order to encourage investment, employment and settlement in New Raipur Atal Nagar, it was decided to arrange land allocation at a discounted premium rate for development of information technology industry, health services, educational institute, electronics and electrical industries.
The cabinet also decided to exempt stamp duty till 31 March 2026 to Nava Raipur Atal Nagar Development Authority for purchase of private land by mutual agreement for the Nava Raipur project.
