Incentive to investors to set up industries in Maoists areas

RANCHI: The Jharkhand government is considering giving incentives to investors who set up industries in Maoist-affected areas as it circulated a draft proposals for a new industrial policy.

Industrialists keen to set up projects worth Rs 5 crore and having a minimum of hundred job opportunities, would get an extra five per cent grant under the provision of Comprehensive Project Investment Schemes (CPIS), according to the new draft proposals, official sources said today.

This is in addition to 7 per cent, 10 per cent and 15 per cent categorization of various schemes, it said. However, the CPIS would not cover big projects.

Similarly, an extra five per cent grant would be given to those investors willing to implement the state reservation policy under the CPIS.

The investor-friendly draft encourages job growth, setting up of micro, minor and medium industries and silk industry and provides financial incentives of varying percentages.

The draft also proposes to setting up silk/handicraft units in every district with a capacity of absorbing 250 to 1000 people, and would lend loans at two percent less interest to Self-Help Groups having ten or more members.

There is also a provision for captive power plants which could use electricity paying 50 per cent of the total rent up to five years and up to ten years for solar/renewal energy units, the draft said.

There are also lucrative proposals in agriculture, food pars and other areas.