UP mulling Industry Facilitation Act

Also, in a bid to attract investments for the development of Bundelkhand region, the State government is favourably inclined to announce a "package of incentives", informed Jacob Thomas, principal secretary, Industrial Development (SSI and Exports).

Elaborating about the Industry Facilitation Act, Thomas informed that the Act will have provisions for single-window clearance for the projects and information technology will be extensively used for transparency and efficiency.

Talking about other initiatives taken recently, he said, the implementation of Ganga Expressway, which links Greater Noida to Ballia in eastern UP, will open extensive tracks for agro-based industries and industry in general. The expressway will also link these new developed regions with the gateway ports in Mumbai and Gujarat.

This coupled with Delhi-Mumbai industrial corridor, passing through UP, industry can look forward to investment opportunities in the state. He emphasised that for agricultural growth it is necessary that customised and demand driven agri-products be manufactured for the markets.

Thomas was speaking in an interactive session organised by PHD Chamber of Commerce and Industry.

Earlier Shishir Jaipuria on behalf of industry in UP has urged the Principal Secretary for continuation of Sales Tax exemption for the unexpired period availed by the units under Sec. 4 A of the UP Trade Tax Act. Unfortunately this major incentive was converted into deferment under the UP VAT Act implemented in the State with effect from 1st January this year.

The principal secretary reassured that the state government will consider the issue on merit so that the economic viability of industry is ensured.