Himachal Pradesh to tackle delay under Section 118 to boost industrial investment
Shimla, May 14,
The Himachal Pradesh Government has assured potential investors interested in setting up new industry units in the state that it will address the delays caused by obtaining clearance under section 118 of the state’s land reform and tenancy act. The government spokesperson stated that the Chief Minister is keen to create an industry-friendly environment to develop Himachal Pradesh as the most preferred investment destination. The government plans to improve infrastructure in major industrial areas, strengthen power supply, and launch several schemes to provide a conducive environment for entrepreneurs. These initiatives have improved the state’s ranking in the ease of doing business index and attracted more investments.
The state government is providing various incentives, including cheaper power, easier credit facilities through the State Finance Corporation and nationalised banks, and low-rate lease basis land for new industries. Additionally, new industries are exempted from sales or purchase tax, and concessions are being provided on charges for transportation of raw materials from the nearest railhead outside the state, along with other marginal benefits. The government is also considering abolishing the compulsion of the Essentiality Certificate required from the industrialists to increase industrial investment in Himachal. The Bureau of Investment Promotion is being set up in the Industries Department to replace the existing single window system, which would provide a Plug-and Play interface to the investors.
The government aims to bring an investment of about Rs. 20,000 crore in manufacturing, tourism, energy, construction, housing, etc. and provide direct employment to about 40,000 persons and indirect employment to about 50,000 persons. Due to the rugged topography of the state, 99 percent of enterprises established in the state belong to the Micro, Small, and Medium category. The Industries Department would conduct a detailed survey of these enterprises to identify their problems and provide apt redressal. The government plans to establish Unity Mall in the state to promote the One District One Product concept, which will help in providing employment opportunities to local youth and developing the state as an Ideal Investment Friendly State.
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