With the Industrial Policy 2004 expiring on March 31, industry bodies in Madhya Pradesh have urged the state government to extend the sops as they are not in a position to complete their investments and start commercial production.
The government will withdraw tax and other incentives to new industries after March 31. The new policy is unlikely to be out by July this year. “A number of industries, which have started their new or expansion projects earlier, have now either dropped or are going slow due to the slowdown. These industries have, therefore, urged the government to extend the sops beyond March 31,” said an industry representative.