Punjab Deputy chief minister Sukhbir Singh Badal today unveiled the Agro Industrial and Food Processing Policy-2013 announcing a special package of incentives for fixed capital investment ranging from Rs.1 crore to above Rs.100 crore.
Announcing this at a function regarding Agro and Food Processing Policy for Punjab organized by Confederation of Indian Industry (CII) at New Delhi, the Deputy chief minister said Punjab would provide 80% VAT (Value Added Tax) and 75 per cent CST (Central Sales Tax) exemptions for 10 years for all projects with fixed capital investment ranging from Rs. 01 crore to Rs. 25 crore. He said similarly 85% VAT and 80 % CST exemption would be given for investment from Rs. 25 crore to Rs. 100 crore. Mega projects with investment of Rs. 100 crore or above will invite 90% and 85% VAT and CST exemption, he added.Mr Sukhbir Badal while addressing a galaxy of leading industrialists also announced that property tax exemption of 100 percent would be also provided for investment up to Rs. 100 crore and the mega projects with an investment of Rs. 100 crore or above would be exempted from property tax for twelve years.
Among the other slew of benefits announced by the Deputy CM was exemption from stamp duty on purchase or lease of land for three years and exemption from Mandi Fee, Rural Development Fund and Infrastructure Development cess.Giving further details, Mr. Badal informed that no VAT would be charged on branded Atta, Suji, Maida and Dalia manufactured by units purchasing wheat from within the state and no VAT would be charged for preserving food products including horticulture, milk and meat purely for enhancing shelf life. The government would also provide subsidy on waxing, grading, cold-storage, packing and freight, ranging from 25 to 50 percent.
The Deputy CM said his government was taking concrete steps to ensure farmers were able to market their agro products effectively. He said the government would promote Private Market Yards in the state by making amendments in the Agriculture Produce Marketing Committee Act. He assured the industrialists that a concerted drive would be launched to make the farming community aware about the benefits of direct marketing and contract farming.
Interacting with the industrialists during question-answer session, Mr. Badal announced that the state government would launch an online portal for ‘Single Window Clearance’ for all types of NOCs from October onwards. He said simultaneously the Administrative Reforms Department had been directed to simplify old acts and rules for quick access to facilities and services to eradicate the hindrances posed by the errant officials. He also announced that the State cabinet would take up the issue of establishment of a dispute redressal authority for approval in its next meeting.
Prominent among those present on the occasion, included Mr. Akshay Bector, Chairman CII, Mr. Jayant Davar, Chairman CII Northern Region, Mr. Rajinder Gupta, Trident Group, Mr. Kamal Oswal, Nahar Group, Mr. Rajesh Srivastava, Robo Equity, Mr. D.L. Sharma, Vardhman, Mr. Pankaj Mahajan, Cargill India, Mr. Sunil Duggal, Pepsico, Mr. Sanjay Khajuria, Nestle, Mr. Anil Mittal, KRBL India. Others present included Mr. Karan Avtar Singh, Principal Secretary Industries and Mrs. Kalpana Mittal Baruah, Principal Resident Commissioner cum Investment and Promotion.