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- Removal Of Special Subsidy Of Footwear Industry, PCB’s Consent Is Also Necessary For Setting Up Green Category Industry
Amritsar38 minutes ago
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The footwear industry was kept outside the thrust sector (focus sector) in the policy.
The Punjab government had sought suggestions from industrialists before the finalization of the Industrial Policy-2022. Its deadline expired on 22 September. The government will issue the final draft of this proposed policy after October 16. The proposed policy focuses on giving benefits to micro-small units. In which a subsidy of 5 percent will be given on the interest of term loan, whereas, medium scale units will not be able to get the benefit. Similarly, in this policy, the footwear industry has been kept outside the thrust sector. In the new policy, PCB approval will be required for green category industries. According to CA Vibhor Kumar, the benefit of CLU exemption should be given to every category on the lines of micro-small industry set up in the border zone. Strict conditions have also been imposed by giving a subsidy of 50 lakhs, due to which a large part of the industry will not be able to take the benefits of this policy. There are 1.46 lakh MSME units in the state, of which 80 percent are micro-small industries.
What are the advantages and disadvantages of Industrial Policy 2022 and 2017?
Subsidy up to 50 lakhs
- policy 2022 – Turnover up to 50 crores in thrust sector, 50% subsidy has been made on investment in industries of 10 crores.
- policy 2017 – There was no provision of subsidy up to 50 lakhs. The footwear industry was kept in the thrust sector, in the new policy it has been kept out of the thrust sector.
No profit for the medium industry
- policy 2022 – Micro-small industry will get 5% subsidy on term loan interest, medium units will not get the benefit.
- policy-2017 – In this policy, the medium industry was also given the benefit. This time it has been taken out of this policy.
CLU was waived in the old policy
- policy 2022 – According to clause 12.18, CLU will be waived on investment up to 100 crores in the border zone. The benefit will be given to the first (same) unit.
- policy 2017 – Every industry set up in the border zone was CLU free. Units with investment below Rs 100 crore in the new policy will have to bear the burden of CLU.
Notification will be in 30 days
- policy 2022 – Units whose electricity duty is waived through Industry Department. In this case, Powercom will have to issue a notification of electricity duty waiver within 30 days.
- policy 2017 – There was no provision of notification in the policy in 30 days. Industrialists had to make rounds.
PSEB’s consent will be required
- policy 2022 – To set up a green category industry, consent will have to be taken from the Pollution Control Board.
- policy 2017 – No consent was required for setting up green category industries. Now in this policy, the green category has been made mandatory for the industry.
There was no condition to show production
Policy 2022 – Old Unit Expansion – For modernization, only if more than 25% of the old investment will be invested in the new policy. The production limit should also be increased by 25%.
Policy 2017 – The investment limit was 50%. This time reduced by 25%. There was no condition to show production.
Get profit on software purchase
- policy 2022 – On the purchase of Enterprise Resource Planning (ERP) software, only the first 5 thousand units of the state will get the benefit of subsidy of maximum 5 lakh per unit.
- policy 2017 – This benefit was not in this policy. It will be beneficial on software purchase.
Earlier the deadline was not fixed
- policy 2022 – 1% rent subsidy over and above the free on board (FOB) value of the exporting units. This subsidy will be maximum 20 lakhs (for 5 years) every year.
- policy 2017 – This policy also had benefits, but there was no time limit.
Pickle-Marmalade Industry in the Service Sector
- policy 2022 – Under One District One Product, the pickle-murabba industry of Amritsar has been made incentiveable by including it in the service sector.
- policy 2017 – Pickle-Marmalade Factory did not have this advantage earlier. This will benefit the businessmen of this sector.