Excelsior Correspondent
SRINAGAR, June 11: Government today said under New Industrial Policy it aims to create land banks of 20,000 kanals for establishment of new industrial estates in State in next 10 years.
In a written reply to a question of Ranbir Singh Pathania in Lower House, Minister Incharge Industries and Commerce Department stated that Industrial Policy 2016 targets for creation of land banks of 20,000 kanals for establishment of new industrial estates in different parts of the State.
“All the Deputy Commissioners have already been requested to identify suitable State land in the respective districts for creation of industrial estates. The Deputy Commissioners of Kulgam, Bandipora, Udhampur, Shopian, Ramban, Pulwama, Kathua, Reasi, Kishtwar have identified State land for the purpose and the process of transferring the identified State land has been initiated,” said the Minister.
The Minister stated some of the contours of New Industrial Policy which included creation of land banks of 2000 kanals in next 10 years, target for investment of Rs. 2000 crore annually, creation of 15000 direct and indirect employment annually, upto 30% capital investment subsidy on P&M, 100% subsidy on DG sets and testing lab equipments, and upto 50% subsidy on expenditure incurred on green initiatives etc.
“Under Central Special Package the incentives available include 15% capital investment subsidy on Plant and Machinery (P&M) for large scale units, 100% subsidy on insurance premiums, 90 % freight subsidy etc will be provided,” the Minister stated.
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