Strong need to encourage MSMEs in Punjab with similar incentives in border belt, mountainous area: Capt Amarinder

Chandigarh, May 18 (KNN) Punjab Chief Minister Captain Amarinder Singh called upon NITI Aayog vice-chairman Arvind Panagariya and said there is a strong need to encourage micro, small and medium enterprises (MSMEs) in the state.

He said the sector needs to be encouraged with similar incentives in the border belt and in sub-mountainous area along the hilly tracts to promote employment and bring buoyancy in the tax revenue of the state.

Captain Singh stressed that the measures are necessary for a balanced regional development.

He further urged the Central government to promote a petro-chemical hub adjoining the Bathinda refinery for manufacturing value-added products.

According to a media report, Amarinder sought the support of the Aayog and the Union government for encouraging agro food parks, especially in horticulture, in the state.

Singh requested Pangariya for a one-time waiver and debt swap by the Union government of the term loan taken by Punjab.

He also discussed special measures to help out the beleaguered farming sector and special packages for debt waiver, industrialization and border area development.

A team of NITI Aayog is reportedly likely to visit Punjab for detailed discussions with the state government for the development of the region through crop diversification, industrial revival and other programmes.

While the NITI Aayog has assured the chief minister that Punjab would not be impacted by industrial incentives to the states of Uttakahand, Jammu & Kashmir and Himachal Pradesh, Amarinder suggested a special industrial package for Punjab along a 40-km belt in the sensitive border area, the media report added.