Punjab to unveil new agro industrial policy soon

The Punjab government would soon announce its new Agro Industrial Policy-2009 to achieve the goal of rapid industrialisation in the field of agriculture and agro-processing. The policy would be implemented through the government’s nodal agency – Punjab Agro Industries Corporation Ltd.

The proposed industrial policy envisages a 5 per cent interest subsidy to agro industrial units investing less than Rs 25 crore. Agri-infrastructure projects and small and medium agro industrial units that take up modernisation and technology upgradation would also be entitled to a 5 per cent interest subsidy.

According to a government official, subsidy on distant domestic marketing and export of flowers, fruits and vegetables and import of planting material would continue.

All agro processing units would be allowed to purchase agricultural products directly from farmers. While value added tax, rural development fund, market development fund, infrastructure development cess among others would be rationalised, change in land use charges would be waived and external development charges would be reviewed.

The official said the government was in talks with the Manitoba government in Canada for setting up of a joint task force to explore new investment opportunities in the state agriculture sector. Manitoba has offered to facilitate setting up of a centre of excellence for development of food processing technologies in Punjab on the lines of its Food Development Centre.