The Jharkhand government has approved the new industrial policy, giving a plethora of incentives to investors, including those setting up industries in Maoist-affected areas.
Ranchi: The Jharkhand government has approved the new industrial policy, giving a plethora of incentives to investors, including those setting up industries in Maoist-affected areas.
Jharkhand Industrial Policy, 2012, was approved at the cabinet meeting chaired by Chief Minister Arjun Munda yesterday, according to official sources here.
According to the policy, industrialists keen on setting up projects worth Rs five crore and having a minimum of hundred job opportunities, would get an extra five per cent grant under the provision of Comprehensive Project Investment Schemes (CPIS).
This is in addition to the seven per cent, 10 per cent and 15 per cent categorisation of various schemes, it said.
However, the CPIS would not cover big projects.
Similarly, an extra five per cent grant would be given to those investors willing to implement the state reservation policy under the CPIS.
The policy is aimed at job growth, setting up of micro, minor and medium industries, silk industry and provides financial incentives of varying percentages.
In another significant decision that might strengthen the panchayat system, the cabinet approved bringing in a no-confidence motion against representatives and heads at various levels of the three-tier local bodies, sources said.
There should be a 3/4th presence of members to bring in a no-confidence against any member of the local body. And 3/4th of the members present is required for approval of the motion, they said.