DC Ludhiana says, new industrial and business development policy 2017 yielding results

Ludhiana, July 28, 2019: The new Industrial and Business Development policy 2017 launched by state govt. has started yielding results with the government of Punjab getting the investment proposals of around 50000 crores from all the industrial sectors. This will not only give a great boost to the economy of the state but will also prove a yardstick for achieving the employment generation target of the state.

While giving details, Pradeep Kumar Agrawal Deputy Commissioner Ludhiana informed that one of the major achievements of this policy were the simplified approval procedure of MSME’s. Now all the new and expansion/modernization projects can apply on Business First Portal and get all regulatory and Fiscal incentives online in a time-bound manner. State Govt. has recently notified an amendment whereby all projects up to Rs. 10 crores investments in plant and machinery are approved at District Level Committee which is headed by Deputy Commissioners of the districts.

Agrawal said that first meeting of District Level Committee was held and a case of stamp duty exemption amounting to Rs 2310000 of M/s Ishaan yarns was approved.

He further informed that this will surely boost the morale of the MSME’s and more and more MSME’s will come forward to get the benefits of this scheme.
The policy has multiple benefits as beside huge fiscal benefits the monitoring of applications are done by the highest authorities of the departments for the various clearances to be given on time.

Giving further details, he informed that in Ludhiana till date 287 applications of fresh investment and up-gradation of existing units have been received on the portal under this policy. The industries department has provided a Business Facilitator at District Industries Center to help the industrialists in regard to this policy. For any details, the entrepreneur can contact General Manager District Industries centre.