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More facilities for industrialists

WITH THE aim of giving a boost to the existing Industrial Promotion Policy and providing level-playing field to investors in Madhya Pradesh, the state government has decided to extend more exemptions and facilities as compared to the neighbouring states.

india Updated: Jun 10, 2006 01:49 IST

WITH THE aim of giving a boost to the existing Industrial Promotion Policy and providing level-playing field to investors in Madhya Pradesh, the state government has decided to extend more exemptions and facilities as compared to the neighbouring states.

A decision in this regard was taken in a Cabinet sub-committee meeting, headed by Minister for Commerce & Industry Babulal Gaur here today. He said in order to woo investors, the state would seriously think about providing exemptions and sops to entrepreneurs.

However, the Finance Minister Raghavji, who was also present in the meeting, said the exemptions to be provided should not be excessively high compared to other states.

The Cabinet sub-committee has decided in principle that exemptions to be provided by MP should be higher than Gujarat, Maharshtra and Rajasthan; and a survey would also be conducted to know about the exemptions and sops provided by those states having mineral resources and raw materials like MP.

Regarding exemptions to educational institutions, hotel industry and hospitals, principal secretary (commerce & industry) OP Rawat cited the statement of chief minister and said the industrial policy would not limit itself to industrial investments but go for investments of all kinds. “There should be no restrictions on them,” he added.

There had been a unanimous decision to provide discount on stamp duty and registration fee to industries. The decisions were taken on the basis of feedbacks received from the six sub-groups formed at Indore during an industry seminar. The meeting was attended by principal secretary (commercial tax) G P Singhal, industry commissioner M Gopal Reddy, MPSIDC managing director Pravin Garg, commissioner (commercial tax) PK Das and others.

First Published: Jun 10, 2006 01:49 IST