New Industrial Policy prepared, to be placed before Administrative Council next month

*Measures on quality power supply, land bank suggested
Mohinder Verma
JAMMU, Feb 17: After inordinate delay, the Industries and Commerce Department has prepared the new Industrial Policy and the same will be placed before the State Administrative Council headed by Governor N N Vohra next month for its approval. In the new policy, all those issues, which are presently creating impediments in giving required impetus to the industrialization, have been dealt with.
The Industrial Policy, which is in vogue at present, was announced on January 27, 2004 for a period of 10 years-up to March 31, 2015 but the same had to be extended four times despite announcement in 2015-16 Budget because of inordinate delay in formulation of new one.
The last extension to the Industrial Policy of 2004 was given by the State Cabinet in its meeting held on October 19, 2015 and at that time Industries and Commerce Department was explicitly told to come up with new policy before ending current financial year.
“The Industries and Commerce Department prepared the new Industrial Policy early last month and subsequently the same was submitted to Finance, Planning and Development, Power and Forest Departments for their comments as all these departments have key role to play in the implementation of the policy”, official sources told EXCELSIOR.
It is pertinent to mention here that Finance Department has a key role to play in giving practical shape to the Industrial Policy by granting sufficient funds while as Planning and Development Department’s concurrence is required for establishment of new Industrial Estates in the State. Similarly, Forest Department has to look after the environmental aspects while as Power Development Department has to provide uninterrupted power supply to the industries.
According to the sources, the Planning and Development Department has already submitted its comments on the new Industrial Policy to the Industries and Commerce Department while as Finance Department has concluded its exercise and is going to formally furnish the comments within a day or two. However, the comments from the Power and Forest Departments are still awaited and they have been asked to expeditiously complete this exercise within next few days.
“Soon after receiving comments from these four departments, the Industries and Commerce Department will ascertain which comments are to be incorporated in the Policy and in respect of others it will record reasons for non-consideration”, sources said while disclosing that new Industrial Policy would be placed before the State Administrative Council headed by Governor N N Vohra and comprising of two Advisors-Khursheed Ahmad Ganai and Parvez Dewan during early next month for its approval.
“Practically, the new Industrial Policy should be implemented from the date of its approval by the State Administrative Council but there is possibility that it would be given practical shape from the beginning of next financial year—April 1, 2016”, sources said.
According to the sources privy to the contents of the new Industrial Policy, measures have been recommended for providing quality and uninterrupted power supply to the industrial units that too without compromising on the realization of revenue by the Power Development Department strictly as per the consumption of electricity.
Confirming that new Industrial Policy has been prepared and would be placed before the State Administrative Council early next month, Shailendra Kumar, Commissioner/ Secretary, Industries and Commerce Department said, “all those issues, which are presently creating impediments in giving required impetus to the industrialization, have been dealt with in the new policy”, adding “several new measures have been recommended in the policy to ensure that existing industries function smoothly and new units come up in required number and play crucial role in checking problem of unemployment”.
He disclosed that for the first time Entrepreneurship Skill Development Fund is being created in order to extend hand-holding to the aspiring entrepreneurs. “This fund would be utilized for providing some sort of training and guidance to the young and aspiring entrepreneurs so that their ventures become successful”, he added.
In response to a question, Shailendra Kumar further disclosed that enough thrust has been laid on creation of land bank so that issue of non-availability of required chunk of land for establishment of new Industrial Estates is resolved and timely land is made available for establishment of new industrial units. “Moreover, it has been recommended that undeveloped land would be given for setting up of new industrial units without putting any financial burden on the applicants so that they develop interest in establishing units instead of keeping the land for investment purpose”, he added.
“We have also recommended that maximum services required to be extended for establishment of industrial units should be extended on-line and in a time bound manner”, the Commissioner/ Secretary Industries and Commerce said.
When asked, Shailendra Kumar said that proposals worth Rs 2500 crore cleared by the Apex Project Clearance Committee (APCC) of SIDCO recently would create jobs for around 15000 local people.

Follow our WhatsApp channel