New Delhi, Mar 24 (KNN) As per the announcement made in the Budget 2017-18, the state government of Punjab revealed the new industrial policy in November 2017. The thrust of the policy was to boost sectors like high-tech manufacturing, technical textiles, food processing, etc, to boost manufacturing in the state. However, industrialists want that the government should act as a facilitator by offering hand-holding to the industry.

Seeing the scenario, where biggest challenge for the government is to attract big-ticket investments, Chief Minister Capt Amarinder Singh has signed MoUs with various industrial houses in the recent past, but actual amount of investment that will come up after this is still not clear.

According to the Punjab Economic Survey, the growth rate of the industrial sector was estimated at 4.57 per cent in 2016-17. However, the estimated national average was 6 per cent.

In the previous Budget, Finance Minister Manpreet Singh Badal had announced setting up of MSME  kendras, new industrial parks, logistic hub, etc, but nothing has been done in this direction as announced.

Last year, the industry and mining sector got a combined allocation of Rs 209 crore only.

Industrialists mentioned that the Value Added Tax (VAT) refunds have not been made by the government for the past many years and now the entrepreneurs are awaiting GST refunds.

Badish Jindal, an entrepreneur from Ludhiana said that “the Central government has a policy to develop clusters in which it contributes 70 per cent, while the state’s share is 20 per cent and rest of the cost is being shared by members of the Special Purpose Vehicle (SPV). As the state is reluctant to contribute its share, so clusters are not coming up”. (With inputs from a media report) (KNN/YV)