Uttarakhand budget: Industry happy but wants ‘free flow of funds’ | dehradun | Hindustan Times
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Uttarakhand budget: Industry happy but wants ‘free flow of funds’

Announcement to set up growth centres and launching of ‘Destination Uttarakhand’ to attract investment are among a few things in the state budget that were welcomed by industry representatives

dehradun Updated: Mar 22, 2018 21:42 IST
Abhinav Madhwal
Chief minister Trivendra Singh Rawat (R) and finance minister Prakash Pant arrive to present the budget during the budget session of the state assembly on Thursday.
Chief minister Trivendra Singh Rawat (R) and finance minister Prakash Pant arrive to present the budget during the budget session of the state assembly on Thursday. (PTI)

Announcement to set up growth centres and launching of ‘Destination Uttarakhand’ to attract investment are among a few things in the state budget that were welcomed by industry representatives.

They also urged the government to ensure free flow of funds for the new schemes.

The government on Thursday presented a budget of ₹45,585 crore. Major highlights of the budget for the industrial sector are that new investment will be attracted by organising industrial development fairs.

‘Destination Uttarakhand’ events will be organised at various places with a view to attract investments and showcasing industrial potential of the state. The budget allocated ₹25 crore for the activity.

Besides, growth centres will be opened in all 13 districts of the state and ₹15 crore was allocated for the purpose.

The micro small and medium enterprises sector will also be strengthened. For the sector, the budget sanctioned ₹30 crore for various activities.

Pankaj Gupta, Industries Association of Uttarakhand president, welcomed various initiatives announced in the budget, but said more fund allocation was needed for the industry sector.

“Instead of mere allotment of ₹30 crore for MSME sector, there should be a package of at least ₹100 crore,” he said.

Gupta also said growth centres were a good concept but they should equipped with modern technology, marketing units and training facilities.

He also welcomed ‘Destination Uttarakhand’ as it was needed to showcase the industrial potential of the state.

“The growth centres should be qualitative. There should not be any dearth of funds. They should have training and common facilities, and marketing outlets,” he said.

Yogesh Jindal, chairman of SPNG Spinning Mills Kashipur, said the budget has talked of only small measures for the industrial sector but what needed is fast decision taking by the government.

“The mega textile policy was introduced in 2015 and the industrial policy was introduced in 2016, but no industry has been benefitted by the two till now.”

Instead of trying to attract investment from abroad, the government should focus on indigenous and home grown entrepreneurs who understand the turf better, Jindal said.

Industrial development started in Uttarakhand in 2003 with setting up of the State Industrial Development Corporation of Uttarakhand Limited (SIDCUL).

Industrial estates of the UP State Industrial Development Corporation were transferred to it. The SIDCUL industrial estates are spread on 7,493 hectares.

It has pharma city in Selaqui and IT Park in Dehradun. Till date, the hill state has got investment of ₹35,000 crore in the industrial sector.