Punjab to announce IT policy

In order to promote and invite the industry related to Information and Technology, Manoranjan Kalia, Punjab Industry Minister today revealed that very soon a special Information Technology (IT) Policy would be announced by the state government.

"In a proposed policy several lucrative offers including 1:3 Floor Area Ratio and free land against the guaranteed employment to at least 300 persons will be extended to the IT Industry,” Kalia told PTI.

Elaborating the offer, Kalia revealed that for example against the land of 1,000 square yards, industry would be allowed to raise vertical three stories and after submitting the bank guarantee against the land, the guarantee amount would be given back to the industry, if it employs minimum 300 employees in its industrial unit.

Aim of the upcoming IT policy would be to lure IT and IT-enabled service (ITES) providers to set up base in the districts of Ropar, Goinwal Sahib and Jalandhar, the areas nearer to the International Airports and dedicated uninterrupted power supply would be ensured to such IT industrial units, he added.

Starting with free land offers and subsidies on capital investment to exemptions from zoning restrictions, conversion charges, electricity duty, stamp duty and registration charges, the new IT policy would supersede all previous policies in offering incentives, he claimed.

This rebate, however, would reduce in case an IT unit employs fewer people than specified, Kalia said, adding that employees would have to be paid Rs 5,000 and above and the employment level would have to be sustained for two years.

A capital subsidy at the rate of 20 per cent of the total investment, subject to a ceiling of Rs 20 lakh, would also be offered in the IT policy, and such subsidy would also be given to mega projects case by case that are bringing in an investment of Rs 50 crore or employ 1,000 persons, according to him.

These units would not have to pay electricity duty for five years and be exempt from Punjab Pollution Control Board clearances, he added. The draft of the policy has been discussed by the ministry and very soon would be presented before Chief Minister Parkash Singh Badal before getting the final nod from the state cabinet, the Minister added.