Ludhiana News/FICO say thanks for grant of investment incentive to SMEs in Industrial Policy 2013

Ludhiana, December 10, 2013: Federation of Industrial & Commercial Organisations (FICO), Ludhiana delegation today met the Minister for Industry, Punjab Madan Mohan Mittal, Finance Minister Parminder Singh Dhindsa  in Progressive Punjab Investors’ Summit 2013 held at Indian School of Business at Mohali under the presidentship of Gurmeet Singh Kular.
The delegation thanked   for grant of investment incentive to the SMEs in the Industrial Policy 2013. Before that in the Industrial Policy there was no Incentive for MSME industry because it had started from Rs. 10 crore, said the delegates.  Now Punjab Government notified the Fixed Capital Investment (FCI)  from Rs.1 crore, 50% Vat & 75 CST Retention, 100% waive off Electricity Duty, Exemption of Stamp Duty & 100% exemption of Payment of Property Tax Incentive  which is eligible for 7 years. It will boost the SME Sector & SME industry of Punjab would flourish, the delegates opined.
Further delegation requested to the Industry & Finance Minister to give relief to the existing industries because these are the real back bone of Punjab's industries.
Amongst others, Manjinder Singh Sachdeva (General Secretary FICO), Harpreet Singh Takkyar, Harpal Singh Bhamber (President, Janta Nagar Small Scale Mfrs. Association), Rajeev Jain (President Laghu Udyog Bharti & Gen. Secretary, United Cycle & Parts Manufacturers Association & Secretary Fico ), Satnam Singh Makkar President Dhandari Industries Welfare Association and Balbir Singh Mankoo Finance Secretary FICO were included in the delegation./ ludhiana news online, ludhiana news in English, ludhiana news, ludhiana current news, ludhiana news live, Ludhiana breaking news, Ludhiana headlines, Ludhiana latest news, punjab news, india news