Punjab seeks special incentives for industry

Chandigarh: Reiterating his demand for special incentives from the Central government to boost investment and industry in Punjab, Chief Minister Amarinder Singh on Monday sought Union Minister Piyush Goyal's intervention in the matter.

In a letter to Union Minister of Commerce and Industry Piyush Goyal, the Chief Minister said that such incentives have already been extended to the neighbouring states of Jammu and Kashmir and Himachal Pradesh in terms of income tax exemption, central goods and sales tax reimbursement and freight subsidies.

Pointing out that due to certain inherent factors like land-locked position of the state, long and hostile borders with the neighbouring country, history of turmoil due to externally sponsored terrorism and incentives given to neighbouring states, Punjab has suffered and needed special incentives on the lines of Jammu and Kashmir and Himachal Pradesh.

Amarinder Singh also emphasised on the need for inclusive growth by improving employment opportunities in the state.

After extensive consultations with the industries, the state government has formulated an industrial and business development policy with incentives to new and existing industrial units so as to attract new investments in the state, the Chief Minister added.