Punjab's new industrial policy soon

The Punjab government will soon announce its new industrial policy.

“The state budget would be announced in the coming Assembly session after which the government would incorporate the provisions of the proposed budget in the draft industrial policy,” said industries minister Manoranjan Kalia.

Though Kalia did not elaborate on the proposed policy, sources said upcoming industrial units in the state would get exemption from change in land use charges and industrialists setting up units on border districts would be offered tax incentives.

He said a state delegation would soon meet Prime Minister Manmohan Singh to seek a special financial package for the border state to improve infrastructure, industry and farming sectors.

“There is a need to extend a special loan waiver for Punjab farmers and landless labourers, who contribute more than 60 per cent of wheat and paddy stocks to the central pool. Punjab was making sufficient buffer stocks of foodgrain, and in the process was facing water depletion. Hence, it should be compensated accordingly,” he said.