The speed of industrial development increased in the state due to industry friendly decisions of Chhattisgarh government
Under the leadership of Chief Minister Mr. Bhupesh Baghel, the state government is continuously taking decisions in the interest of industries
The state also produced 27 lakh tonnes of steel in the lockdown, which is the highest production in comparison to other states of the country.
Raipur, 4 November 2020. Industrial development in Chhattisgarh has gained momentum even during the Corona crisis due to the foresighted decisions taken by the Chhattisgarh government. Under the new industrial policy of the Government of Chhattisgarh, it has now been decided to give a special investment incentive package for investment in the Mega Ultra Mega Project of Ispat (Sponge Iron and Steel) sector.
Investment incentives up to a maximum of 500 crores (up to 1000 crores for Bastar division) will be valid in the package announced for the mega investors by the state government under the leadership of Chief Minister Mr. Bhupesh Baghel. For this, the proposed units will have to start commercial production on or before 31 October 2024. Similarly, new units starting commercial production will be given economic investment incentive by investing in a fixed capital investment item of Rs 100 crore.
The industries of the core sector were also given the eligibility by the state government for electricity duty exemption in the entire state. The core sector industries including steel have got a new lease of life due to the subsidy in electricity. This will benefit the industries in these core sectors from the market across the country. Declaring a special package under the B-spoke policy for sponge iron and steel sector industries, the sector-wise exemption limit has been increased from 60 percent to 150 percent. The state produced 27 lakh tonnes of steel during the lockdown period, which is the highest production in comparison to other states of India.
It is worth noting that under the leadership of Chief Minister Shri Bhupesh Baghel, many sensitive decisions like giving concessions in electricity rates, grant-in-aid to the industries and giving priority to the products of local industries with the simple and convenient system of providing various approvals have led to the development of Chhattisgarh industry. Has done Sanjeevani work for During the period of Corona, when industrial activity was stopped throughout the country, production continued in the core sector industries of Chhattisgarh. In the current financial year, in the last week of April, production activities had started in industries other than core sector.
