MP's industrial policy awaits finishing touch

An overhauled version of the Industrial Promotion Policy 2004 in MP has been delayed further since "bureaucrats have yet to find ways to include new chapters in it".

The state government, on May 29, invited as many as 200 industrialists in the state and sought their suggestions to give a final shape to the new version of the Industrial Promotion Policy 2004.

Chief Minister Shivraj Singh Chauhan had assured the industrialists that the new policy would be launched in July.

According to a government source, "the policy is unlikely to be launched this month".

Principal Secretary (Commerce and Industry) OP Rawat told Business Standard, "We are working on it and it will be launched soon. We will have employment provisions in the existing policy and it will be named 'Investment Promotion and Employment Policy'. It would be employment-oriented." He, however, did not disclose the date of the launch.

A government insider said the new amended version would have a notification clause since an investment proposal has to go under various departments and in absence of notification, the facilities of sops and concessions announced in the policy do not reach the beneficiary. A separate provision industrial township and a chapter for non-resident Indians may also be included in the new policy.

"The sub-committee has to see various issues pertaining to the notification clause to make the single table concept floated by Shivraj Singh Chouhan, effective," said the source adding, "further cut in cess and electricity duty is unlikely to come up in the amended policy." As many as 12 promises declared in the existing Industrial Promotion Policy 2004 are yet to come out of the paper.

"The bureaucrats in this state are unanimously democratic in implanting concessions and sops to the industry," an office bearer of an industry association alleged on condition of anonymity.

The office bearer said, "The government has failed to implement what it had announced in the industry policy 2004. The new policy is also unlikely to offer benefits to the new investors if issuance of notification does not take place."