Raipur: The Chhattisgarh cabinet on Monday approved the new industrial policy for the state which would come into force on November one.
“The draft proposal of the Chhattisgarh government’s New Industrial Development Policy 2024-29 has been accorded approval by the council of ministers.
The new industrial policy will come into effect on November one, 2024 and will remain in force till October 31, 2030”, a state government spokesman said after the cabinet meeting.
This is the first time the Chhattisgarh government has framed a five-year industrial policy for the state, sources said.
The cabinet meeting was chaired by chief minister Vishnu Deo Sai.
The new industrial policy of the government envisages realization of the provisions of Vision 2047, the roadmap prepared by the Vishnu Deo Sai government for industrialization of the state over 23 years.
“The policy is set to give a new dimension to industrial development in the state”, the spokesman said.
The policy incorporates the amendment made by the Government of India in the year 2020 in MSME Act 2006 to redefine the micro, small, medium and large scale industries, the spokesman added.
Special provision has been made to provide incentives for industrial development for balanced development in the state.
The new policy also envisages provision of incentives for establishment, expansion, diversification, replacement and other activities of new enterprises in the state.
Attractive industrial investment incentives have been provided for pharmaceutical, textile, food processing, agricultural product protection, electronic products, IT and ITES etc., the spokesman said.
The cabinet also decided to exempt stamp duty till March 31, 2026 to Nava Raipur Atal Nagar Development Authority for purchase of private land by mutual agreement for the Nava Raipur project.
