New industrial policy soon in Gujarat, sops likely
The state government plans to add new sectors in the proposed policies
With the state assembly elections just a few months away, the BJP government has planned to make significant changes in key industrial policies.
Three new industry-related policies MSME, mega industries and large industries are expected to be announced shortly to address pending issues like GST compensation and demand for other financial incentives.
Industries have been demanding resumption of financial incentives related to taxes, which had been discontinued after the introduction of goods and service tax (GST) regime.
Sources confided that industries will get GST compensation or reimbursement of up to 50% of their capital investment.
The upper limit of availing GST reimbursement on capital investment in different sectors is still being worked out.
According to highly placed sources in the government, MSME (micro, small and medium enterprises), large industries and mega industries will cumulatively be offered about Rs 10,000 crore worth of direct and indirect benefits under the proposed scheme.
The state government plans to add new sectors in the proposed policies.
The state government has also planned to consider the government of India's industrial incentives separately, which will add to financial incentives to industries.