Begin typing your search above and press return to search.

FINER Lauds New Assam Industrial and Investment Policy

FINER Lauds New Assam Industrial and Investment Policy

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  25 July 2019 11:24 AM GMT

GUWAHATI: FINER (Federation of Industry and Commerce of North Eastern Region) on Wednesday lauded the initiative and decision of the government of Assam under the able leadership of Sarbananda Sonowal, on behalf of the Industry fraternity. Pabitra Buragohain, president of FINER said that a major benefit is being mooted for industrial growth and development of Assam with special attention to the employment of people of Assam.

The State Industrial Policy for the very first time includes direct incentives for the generation of Local Employment and Entrepreneurship and provides a one-time incentive to the units at Rs 10,000 per employment created for the local youth. Special attention has been given to assure the availability of quality power. Also, the emphasis has been given for power generation through green technology by incentivizing this.

The policy provides for benefits, subject to fulfilment of certain conditions, of 100% reimbursement of SGST paid for a period of 15 years, with limits of reimbursements pegged between 150% to 250% of the fixed capital employed in a graded table, where larger benefits have been provided for the micro sector and units located in State/Central government developed industrial parks like Bamboo Park, Tea Park, Plastics Park, Food Park etc. Special dispensation has been provided to mega units and units with an investment in fixed capital investment of Rs1000 CRS or units generating employment of minimum 2000 people in regular employment.

The policy provides for the creation of a dedicated “Invest Assam foundation” in lines of “Invest India” of the Government of India, which can be the first reference point of any investor in the region, and provide hand-holding and facilitation to the investors. The agency would also act as an Image and brand-building tool for the state of Assam, outside the state and country.

FINER has been interacting with the industry department, and the State Finance department for the policy and most of the suggestions made by it have found in the policy. The negative list has been kept at a minimum which is also lauded by FINER, stated a press release.

Also Read: Numaligarh Refinery Limited’s Entrepreneurial Initiative Held In Guwahati

Next Story