Himachal Pradesh jumps one place to take 16 spot

  • | Thursday | 12th July, 2018

SHIMLA: Himachal Pradesh has improved its score in the ‘Ease of Doing Business’ ranking of states and the Union Territories (UTs) prepared by the World Bank and the department of industrial policy and promotion (DIPP). While chief secretary Vineet Chawdhry did not respond to calls, industries minister Bikram Singh was busy in a meeting. While in 2016 the state was ranked at 17th place, this time it has managed to secure 16th position across the country.Official sources said for the ease of doing business to attract industries, Himachal Pradesh has taken several steps in the past like investors friendly excise and taxation by offering e-services for effective, transparent and speedy disposal. Besides various tax subsidies, there is online application system for setting up of industries and time-bound project approvals within 45 days for a new enterprise backed by the State Service Guarantee Act.The state has also set up an investment promotion cell to promote the state as ideal industrial investment destination and to facilitate industrial investors. As part of incentives for thrust industrial sectors, out of turn allotment of land, plot, industrial shed is made, besides giving some exemption in state duty and subsidy.In April this year, the Centre had announced industrial development scheme to new and existing industrial units engaged in manufacturing and service sector in Himachal Pradesh.

SHIMLA: Himachal Pradesh has improved its score in the ‘Ease of Doing Business’ ranking of states and the Union Territories (UTs) prepared by the World Bank and the department of industrial policy and promotion (DIPP). While in 2016 the state was ranked at 17th place, this time it has managed to secure 16th position across the country.Official sources said for the ease of doing business to attract industries, Himachal Pradesh has taken several steps in the past like investors friendly excise and taxation by offering e-services for effective, transparent and speedy disposal. Besides various tax subsidies, there is online application system for setting up of industries and time-bound project approvals within 45 days for a new enterprise backed by the State Service Guarantee Act.The state has also set up an investment promotion cell to promote the state as ideal industrial investment destination and to facilitate industrial investors. Projects having an investment scale above Rs 10 crore or power demand of more than 1 MW or fall in negative list are approved by the state-level single window clearance and monitoring authority, they added.Sources said to ensure healthy involvement and interaction with industrial stakeholders in decision-making process, an industrial advisory council has been constituted in the state. As part of incentives for thrust industrial sectors, out of turn allotment of land, plot, industrial shed is made, besides giving some exemption in state duty and subsidy.In April this year, the Centre had announced industrial development scheme to new and existing industrial units engaged in manufacturing and service sector in Himachal Pradesh. The scheme would remain in force till March 31, 2022.Those units that have already commenced commercial production and operation after April 1 last year could register under this scheme with DIPP by September 30 this year. The scheme will also be applicable to bio-technology and hydel power generation units up to 10 MW.Other features of scheme includes central capital investment incentive for access to credit (CCIIAC) at the rate of 30% of the investment in plant and machinery with an upper limit of Rs 5 crore. Besides, all eligible new industrial units and existing units on their substantial expansion located anywhere in the State and are included in Fire Policy 'C' as per all India fire tariffs would be eligible for reimbursement of 100% insurance premium on insurance of building and plant and machinery for a period of five years from the date of commencement of commercial production and operation.In addition to this, the state government had also decided to waive off 2% and 1% fees, which was collected earlier on the rental charges from industrial units and limits of unearned increase.In addition, under the Mukhya Mantri Swablamban Yojna, youth in the state would also be entitled for subsidy of 25-30% up to an investment of Rs 40 lakh, besides interest subsidy on loan up to 5% and government land on 1% lease money.No one from the government was available for comments. While chief secretary Vineet Chawdhry did not respond to calls, industries minister Bikram Singh was busy in a meeting.

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