Assam: Government approves Assam Industrial and Investment Policy (Amendment), 2023

Assam government on Thursday approved Assam Industrial and Investment Policy (Amendment), 2023 for making Assam a globally-competitive investment destination.

The proposed amendment to offer following customised incentives for implementation of Mega Projects (Initial investment of R100 crore and 200 permanent employments- all non-skilled/Grade lI and IV employment to be within State only).

The cabinet approved capital Investment/Production Linked Subsidy .Subsidy on Power Tariff Subsidy on Land

Subsidy on Drawl of Power Lines Stamp Duty Reimbursement Employment/Payroll Subsidy Any other incentive deemed fit.

Empowered Committee will be chaired by Industries & Commerce Minister and senior-most officials of various departments like Finance, Revenue, Power, Industries, Mines & Minerals, Tourism, etc.

For easing Burden of Power Consumers Approval to Power Purchase Subsidy of Rs 150 crore to Assam Power Distribution Company Ltd (APDCL). This will allow APDCL to mitigate revenue gap claimed in tariff petition (as already agreed by Govt of Assam) and avoid a hike in retail tariff for FY 2022-23.

For the benefit of factory workers, approval to "The Assam Factories (Amendment) Rules, 2023" Is proposed. The amendments have been recommended in view of certain omissions and errors in the existing provisions. Recent spike in factory accidents in tea and various other factories also warranted such changes.