Dehradun (Uttarakhand) [India], May 28 (ANI): Uttarakhand Chie Minister Pushkar Singh Dhami on Wednesday held a cabinet meeting and took a decision regarding the promulgation of Uttarakhand Mega Industrial and Investment Policy-2025 (Mega Policy-2025).

Uttarakhand Mega Industrial and Investment Policy-2025 (Mega Policy-2025) has been proposed by making provision for capital inputs by incorporating all types of inputs provided in the previous policy.

The objective of this scheme is to establish Uttarakhand as a competitive destination for capital investment at national and international level and to develop the economic development of the state and create additional employment opportunities by developing a favorable ecosystem for capital investment in large scale manufacturing enterprises.

This policy will be effective from the date of issuance and will remain in force for the next five years. During the said period, the units expressing the intention to avail the benefits under the policy by applying for CAF on the single window portal will be entitled to the benefit of financial incentives as per the permission as per the large enterprise investment category.

Under this policy, large enterprises have been classified into 4 categories on the basis of permanent capital investment (excluding land) - Large (more than Rs. 50 crores, up to Rs. 200 crores), Ultra Large (more than Rs. 200 crores, up to Rs. 500 crores), Mega (more than Rs. 500 crores, up to Rs. 1000 crores) and Ultra Mega (more than Rs. 1000 crores) and minimum permanent employment limit of 50, 150, 300 and 500 has been fixed for these respectively. A time limit of 3 to 7 years has been fixed for the said investment from the date of application of CAIF.

A provision has been made for reimbursement of 50 percent (maximum Rs. 50 lakhs) of stamp duty payable on execution of land purchase deed/lease deed by the enterprises to be established under this policy.

Under this policy, provision has been made for capital subsidy of 10 percent, 12 percent, 15 percent and 20 percent respectively of the permanent capital investment to the large enterprises of Large, Ultra Large, Mega, Ultra Mega investment category, which will be payable in annual installments after 8, 10, 12 and 15 years respectively after the enterprises come into commercial production.

For the promotion of establishment of large enterprises in hilly areas, provision has been made for additional capital subsidy of 2% and 1% respectively in category A and B districts under this policy. (ANI)