By Shishir Prashant 
PrashantNews
The Pushkar Singh Dhami Cabinet on Wednesday approved the new Uttarakhand Mega Industrial and Investment Policy-2025, a move welcomed by the industries.
In view of the complex process of repeated application and non availability of subsidies after the expiry of the Mega Industrial and Investment Policy-2021 and the Industrial Development Scheme-2017, the state cabinet put its seal of approval on the new Uttarakhand Mega Industrial and Investment Policy-2025 by incorporating provisions all capital subsidies provided in the previous policies.
The objective of the new policy is to establish Uttarakhand as a top destination for capital investment at the national and international level and also focus on the economic development of the state. The new policy also intends to create fresh employment opportunities by developing a favorable ecosystem for capital investment in the establishment of new manufacturing units.
This policy will be effective from the date of issuance and will remain in force for the next five years. During the period, the new units intending to avail the capital subsidy benefits and other incentives will be entitled to do so as per the investment category.
Under this policy, large enterprises have been classified into four broad categories on the basis of permanent capital investment (excluding land) – Large (more than Rs. 50 crores, up to Rs. 200 crores), Ultra Large (more than Rs. 200 crores, up to Rs. 500 crores), Mega (more than Rs. 500 crores, up to Rs. 1000 crores) and Ultra Mega (more than Rs. 1000 crores) and minimum permanent employment limit of 50, 150, 300 and 500 has been fixed for these respectively. A time limit of 03 to 07 years has been fixed for the said investment from the date of application of CAF.
A provision has been made for reimbursement of 50 percent (maximum Rs. 50 lakhs) of stamp duty payable on execution of land purchase deed/lease deed by the enterprises to be established under this policy.
Under this policy, provision has been made for capital subsidy of 10%, 12%, 15% and 20% respectively of the permanent capital investment to the large enterprises of Large, Ultra Large, Mega, Ultra Mega investment category, which will be payable in annual installments after 8, 10, 12 and 15 years respectively after the enterprises come into commercial production.
For the promotion of establishment of large enterprises in hilly areas, provision has been made for additional capital subsidy of 2% and 1% respectively in category A and B districts under this policy.
The Industries Association of Uttarakhand (IAU) President Pankaj Gupta wcomed the new policy and hoped that it would help in attracting new investments in the hill state.