Punjab attracted 10,000 crore industrial investment since Cong came to power says CM

Vastavam web: Punjab has attracted industrial investment of over Rs 10,000 crore since the Congress came to power in the state last year, Chief Minister Amarinder Singh said Tuesday. “Various initiatives taken by the government has already boosted investment sentiment,” Amarinder said in a statement here. “As is evident from the fact that investment of over Rs 10,000 crore has been secured in the past 19 months, since the government took over in March 2017,” he added. As many as 60 new units had been started in Mandi Gobindgarh, in addition to revival of old units, in this period, he added.

On Tuesday, the chief minister launched the Invest Punjab Business First Portal’, aimed at further boosting industrial development in the state. Pointing out that the portal would provide an independent interface to investors for their industrial grievance redressal, feedback and suggestions, Amarinder said the facility would also help bring fiscal incentives to investors under the Industrial and Development Policy-2017.

Under the portal, approvals for applications having more than Rs 1 crore Fixed Capital Investment (FCI) would be given by Punjab Bureau of Investment Promotion (Invest Punjab) and for those up to Rs one crore FCI, they would be given at the district level. Relationship managers/sector officers would be assigned automatically through the portal which would provide 34 pre-establishment and pre-operation regulatory clearances of 11 departments and 35 fiscal incentives. The CM reiterated his government’s commitment to making Punjab the most preferred investment destination by according the highest priority to enhancement of ease of doing business.