In-Principle issued under Right to Business Act 2020  & Industrial units got approval of Incentives under Industrial and Business Development Policy-2017 and 2022

Ludhiana, July 3, 2024: A meeting of District level committee, was held on 03.07.2024 under the Chairmanship of Worthy Deputy Commissioner, Ludhiana to consider cases for in-principal approval under Right to Business Act 2020 for Regulatory Clearances  and giving benefits like Electricity Duty Exemption, Stamp Duty Exemption, Net SGST Incentive Reimbursement and CLU/EDC Exemption for setting up their Industrial units in Ludhiana.

While giving details, Deputy Commissioner Ludhiana Sakshi Sawhney IAS informed that one of the major achievements of this policy was the simplified approval procedure of incentives for MSME’s.  All the new and expansion/modernization projects can apply on Business First Portal and get all regulatory Clearances and Fiscal incentives online in a time-bound manner. The projects up to Rs. 10 crores investments in plant and machinery of IBDP 2017 policy and Projects upto 25 crore of FCI under IBDP-2022 policy are approved at District Level Committee which is headed by Deputy Commissioners of the districts.

Giving details Rakesh Kumar Kansal GMDIC Ludhiana informed that in today's meeting 4 Electricity Duty , 2 CLU/EDC Charges Exemption, 1 Stamp Duty Exemption and 4 Net SGST Reimbursement Incentive applications has been approved by the Committee. Also for the In-Principle approval, 7 units were processed wrt building plans & CLU/EDC clearances.

Deputy Commissioner Sakshi Sawhney IAS informed that this will surely boost the morale of the Industry and more and more industries will come forward to get the benefits of this scheme. The policy has multiple benefits as beside huge fiscal benefits the monitoring of applications are done by the highest authorities of the departments for the various clearances to be given on time.