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West Bengal |
West Bengal
The State Government has announced a new industrial policy in September 1994. The main salient feather of the State Govt.’s policy industrial promotion and economic development are as under:
- The State Govt. welcomes foreign technology and investment as may be appropriate, or mutually advantageous.
- The Govt. recognizes the importance and key role of the Private Sector in providing accelerated growth. The State Govt. would welcome private Sector investment in power generation.
- Improvement and upgradation of industrial infrastructure is indispensable for accelerated growth of industries. The Govt. recognizes the need in improvement in roads, communication and development of Growth Centres. Since these programmes require massive investment, the Govt. proposes to undertake projects for development of industrial infrastructure through the Private Joint Sector also, whenever feasible.
- The Govt. has already taken the initiative in substantially improving the social infrastructure facilities like development of satellite township, housing, health, education, water supply, hotels, etc. a major thrust has been given to technical education and training through polytechnics and it is. In the sphere of health, improvement and expansion of hospital facilities in and around Calcutta and Growth Centres through Private & Joint Sector efforts is being explored.
- Along with the Public & Private Sectors, the State Govt. looks upon the joint and assisted sectors as effective instrument for mobilizing necessary resources and expertise in important areas of economic activities.
- Based upon the available opportunities and the potential of this region, the State Govt. has identified certain segments of industries as thrust areas for special attention viz.
- Petro-chemicals & Downstream Industries,
- Electronics & Information Technology,
- Iron & Steel, Metallurgical and Engineering,
- Textiles,
- Leather and Leather Products
- Food Processing, Edible Oil, vegetable Processing and aquaculture
- medicinal plant, Rubber, Palm oil and Tea,
- manufacture of basic drugs chemicals and pharmaceuticals,
- Optimal utilization of minerals and development of mine based industries,
- gems and Jewellery and
- Promotion of Tourism and Tourism related activities.
Incentives:
- 75% subsidy (up to Rs.50,000) on the cost of feasibility studies and project reports
- Capital subsidy of 15%, 20% and 30% of fixed capital investment in Areas B, C, and D
- Capital subsidy of 40% for small-scale units with fixed capital investments up to Rs.200,000
- Sales tax deferment of 70% of fixed capital assets (7 years) in Area B and 85% (8 years) in Area C
- Sales tax remission of 70% of fixed capital assets (5 years) in Area B and 85% (7 years) in Area C
- Sales tax exemption on inputs for 5 to 9 years for new units and 4 to 8 years for existing units
- Subsidy of 25% (up to Rs.750,000) on the purchase and installation of generating sets
- 3-year exemption from octroi for units located outside the Calcutta Metropolitan area
Whereas in pursuance of a National Policy, the sales tax related incentives have been withdrawn from the 1st January 2000. And the State Govt. has considered it necessary and expedient to extend new types of incentives for promotion of industries in the State from the same date.
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