01182018Headline:

Jharkhand Industrial Policy, 2012

The Jharkhand government brought the new Industrial Policy in June 2012, first after its previous industrial policy in 2001. However the effective date of applicability of incentives and other provisions begins from 1.04.2011 till 31.03.2016.

The policy, with a renewed focus on electronics and IT industry this time, acknowledges that hardly anything was achieved in the 2001 policy in these industries as well as on the creation of SEZs. The policy has special thrust on four sectors including information technology, agro and food processing, auto components manufacturing and textiles.

Some of the highlights of incentives for IT/ITES industry:

  • Exemption from electricity duty for 5 years for mega IT units
  • Recruitment incentive of Rs 0.25 million (Rs 25 Lakh) per 50 local people employed in IT/ITES firms with a cap of maximum Rs 2.5 millions
  • 100% reimbursement on Stamp duty, Transfer duty, Registration fee for first transactions, 50% for second transactions

In addition, projects worth rupees five crore and having a minimum of hundred job opportunities, would get an extra five percent grant under the provision of Comprehensive Project Investment Schemes (CPIS).

Land: Land being a sensitive issue for the state, especially in the Maoist-infested areas, the government had treaded a tightrope walk.

  • To identify and use waste land owned by the Government and public sector entities
  • To redirect excess land owned by some industries to new investors
  • But no concession in conversion policy of a land to industrial category

The state has also given some regulatory reliefs like exemption from Factory Act etc.

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