Ludhiana, Jun 11 (KNN) Industrial units have been benefited from Industrial and Business Development Policy-2017, said Ludhiana Deputy Commissioner, Varinder Kumar Sharma on Friday.

He said this during a meeting of district level committee held at Bachat Bhawan to consider cases for giving benefits like Electricity Duty, CLU/EDC and Stamp Duty Exemption to the Industrial units.

While giving details, Sharma informed that one of the major achievements of this policy was the simplified approval procedure of MSME’s. Now all the new and expansion/modernization projects can apply on Business First Portal and get all regulatory and fiscal incentives online in a time-bound manner.

State government has recently notified an amendment whereby all projects up to Rs 10 crores investments in plant and machinery are approved at the District Level Committee, which is headed by Deputy Commissioners of the districts, he said.

Giving details about the cases, Rakesh Kumar Kansal GM, DIC Ludhiana & Maninder Singh Project Manager informed that in today's meeting Seven cases were put up before District Level Committee out of which 6 cases were approved while the other one was kept on hold due some clarification issues.

Upkar Singh Ahuja, President CICU, who was present as representative from the industry along with all other officials from various departments as designated members of District Level Committee, requested the industry to take maximum benefit of this policy.

The Deputy Commissioner said that this will surely boost the morale of the industry and more and more industries will come forward to get the benefits of this scheme.

''The policy has multiple benefits as beside huge fiscal benefits the monitoring of application is done by the highest authorities of the departments for the various clearances to be given on time,'' he added.