With a slew of incentives for various categories, the Haryana government on Tuesday announced its new industrial policy, saying the focus will be on promotion of enterprises.
Chief Minister Manohar Lal Khattar announced the "Enterprises Promotion Policy 2015", which promising ease of doing business, enhancing competitiveness of the industry, laying special focus on manufacturing and services enterprises and balanced regional growth.
The policy was approved by the state cabinet at its meeting here.
Khattar said that the new policy was aimed at attracting investment of over Rs.1 lakh crore, creating four lakh jobs and accelerating economic growth to eight percent plus.
The policy has been announced by the first BJP government in the state just ahead of Khattar's visit to US and Canada (Aug 16-24) to seek investment for the state.
"The new policy will catalyse Haryana's position as a pre-eminent investment destination and facilitate balanced regional and sustainable development supported by a dynamic governance system and wide scale adoption of innovation and technology. It will also lay emphasis on skill development for nurturing entrepreneurship and generating employment opportunities," Khattar said.
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He said that the new policy would make doing business hassle free through a new industrial regime with automatic approval, decentralization of powers and a two-tier system for project clearances.
"A Haryana Enterprise Promotion Board (HEPB) will be created. The board will have a governing council headed by the chief minister for overseeing time bound clearances, sanctioning special packages for mega projects and clearing further policy initiatives," a state government spokesman said here.
"The fiscal incentives would include VAT refund, stamp duty refund, interest subvention and power tariff rebate amounting to Rs.1,000 crore and Rs.1,000 crore fund for collateral free loans for MSMEs," the spokesman said.
The policy has proposed setting up of rural BPOs centres in university towns like Rohtak, Hisar, Kurukshetra, Sonipat and Sirsa where appropriate skill development training will also be provided to rural and urban youth.
"The new policy envisages connecting 6,000 villages with a broadband speed of 100 mbps with 99.9 percent reliability," the spokesman said.
Power tariff subsidy will be allowed for some categories of enterprises for three years.