Odisha Sun Times Bureau
Bhubaneswar, Mar 31:
The Odisha government is all set to implement the new draft Industrial Policy 2015 in order to promote industrial development to accelerate investment in industry and infrastructure projects.
Taking its plans further, the state government has resolved to make state’s industrial hub Duburi as a metallurgical cluster. The state government would provide Rs 5.60 crore to Industrial Infrastructure Development Corporation (IDCO) for its development.
Similarly, Rs 5 crore has been allocated for the mega petroleum, chemical, petrochemicals Investment region (PCPIR) projects in Paradip where IOCL is an anchor tenant in the PCPIR.
Notably, a special purpose vehicle (SPV) “Paradip Investment Region Development Limited” has also been formed for the implementation of infrastructure in the region.
The Union government came out with the National Manufacturing Policy (NMP) in October 2011. One of the key features of NMP is the establishment of National Investment & Manufacturing Zones (NIMZ). To develop an NIMZ, the state government has identified Kalinga Nagar Industrial Complex, Dhamra and Gopalpur as the proposed locations.
The state government would spend Rs 4 crore towards the Kalinga Nagar Industrial Complex. Besides, Rs 3 crore would be granted to IPICOL for single window and project profile grant.
For the development of infrastructure of plastic, polymer & allied cluster in Baleswar (PPACB), the state government would spend Rs 2.23 crore. The cluster, at an estimated cost of Rs 81.90 crore, will come up on the outskirts of Baleswar town, covering Ganeswarpur, Somnathpur and Balgopalpur industrial estates. State-owned IDCO will be the facilitator of the project.
With the coming up of the project, around 1.90 lakh people would get direct employment and around 6.10 lakh people would get indirect employment opportunities.
This apart, a provision of Rs 50 lakh has been made for setting up of a Textile Park in the state.
Prior to implementation of the draft policy, the state government has uploaded the draft policy on its website seeking opinion from the public.
Recently, the budgetary demand of the Industries department was passed in the Assembly. As per its provisions, the state government is preparing a special economic zone (SEZ) policy.
In the draft Industrial Policy, a provision has been made for compensatory value added tax (VAT) of Rs 15 crore. New industrial units in priority sector shall be eligible for reimbursement of 100% of VAT paid for a period of seven years from the date of commencement of production, limited to 200% of cost of plant and machinery in a tapered manner over a period of seven years provided that the VAT reimbursement shall be applicable only to the net tax paid, after adjustment of input tax credit against the output tax liability.
Under the infrastructure development plan, the state government would spend Rs 1 core for creating Land Banks and development of allied infrastructure.
Notably, the state government has also prepared the guidelines of corporate social responsibility (CSR) policy and is planning to implement it in the next fiscal.