After the announcement of the “Special Integrated Industrial Promotion Policy, 2008, for Hilly and Remote Areas of Uttarakhand”, the state government is now gearing up to entice fresh investments to the hills.
However, due to unavailability of land in the hills, the government is finding the job tough. “We have only 30 to 60 acres of notified land in the hills, where the industry can be set up,” said industry secretary PC Sharma.
To overcome the land crises, the government is preparing a directory of areas in the hills where an industrial unit can come up. For this purpose, the government is ready to act as a facilitator. “In case an industrialist wants to set up a unit, he can hold direct talk with the farmer. We can play the role of a facilitator,” said Sharma.
The government is also looking for new entrepreneurs in the fields of eco-tourism, adventure sports and hotels and other sectors, which can take the benefit of the new policy.
The new hill policy, under promises to usher in a new beginning in the hills. A package to attract investments — complete with a slew of sops for 10 years is also in the offing.
The hallmark of the new industrial policy, which came into force on April 1 this year, is that it doles out various incentives for which guidelines have already been issued last month. The sops include special power tariff rebate and transport subsidy.
Officials said the government has already received proposals worth Rs 350 crore.
Under the new policy, the remote and hilly areas of the state have been categorised in groups A and B. Incentives in group A are higher than tho se in group B
Projects with investments of more Rs 5 crore will now be classified as a mega project. Earlier, this status was accorded to projects with more than Rs 50 crore investment.
The minimum requirement of land for setting up a private industrial estate would now be 2 acres instead of 30 acres. These industrial areas would also be provided financial assistance up to Rs 50 lakh. There will be no stamp duty on the sale and lease deed of the land meant for industrial plots.
There will also be capital subsidy on the fixed capital investment in building, plant and machinery at the rate of 25 per cent. This can be maximum of Rs 30 lakh in Group A. It is 20 per cent of the investment with maximum of Rs 25 lakh in group B.
A special value-added rebate up to 90 per cent will also be given. Interest subsidy will be available to eligible enterprises on loans extended by banks and financial institutions.
