How can I invest in Punjab?
Register on Invest Punjab Business First Portal, Click on SCAF, fill in the applicant details. A unique PIN has been created and after that drop-down list of all services has been shown and select the appropriate application and fill the required data with all mandatory documents.
What is invest Punjab scheme?
Established in 2013 by the Government of Punjab, Punjab Bureau of Investment Promotion (Invest Punjab) is a single point of contact for facilitation of investors who are looking to set up a business in Punjab. It is a one-stop office for providing state-level regulatory clearances and approvals for fiscal incentives.
What are the benefits of Invest Punjab?
FISCAL INCENTIVES
- 100% reimbursement of Net GST* Incentive for 15 years up to 200% of FCI.
- 100% exemption from CLU /EDC charges.
- Employment Generation subsidy @ Rs 36,000 /employee/ year and Rs.
- 100% exemption from Electricity Duty for 15 Years.
What is thrust sector in Punjab?
Amid the oxygen crisis triggered by the spiralling Covid cases, the Punjab government on Wednesday announced ‘thrust sector’ status for all oxygen producing units, while appointing a nodal officer to coordinate with customs department for quick clearance of foreign aid.
How many industries are there in Punjab?
There are nearly 194,000 small scale industrial units in the state in addition to 586 large and medium units.
What is thrust sector?
The State Government has notified certain potential sectors as “Thrust sector” for investment. The industrial units which are using Bamboo, Rubber, Agri and Horticultural produce, Tea manufacturing and Gas as their major raw materials during production are considered as thrust sector industries.
What is net SGST?
2) Eligible units will be entitled to obtain reimbursement of net SGST, i.e., SGST amount paid through cash ledger against the output liability of SGST on the sale of eligible products.
Is Punjab rich or poor?
The state has also one of the lowest poverty rates in India at 8 percent in 2012. Punjab has also seen strong economic growth, but since 2005 the state’s growth has fallen below India’s national average. Punjab’s debt was estimated at 39.8% of the state’s GDP in 2020, down from 62% of its GDP in 2005.
What industries get government subsidies in India?
Some of the major and frequently discussed subsidies in India relate to: food, fertilisers, exports, power, irrigation, health and education. In addition, subsidies through the public sector enterprises affect those sectors/industries in which these enterprises participate.
Is there a draft policy for invest Punjab?
No Draft Policy at the Moment. New Industrial and Business Development is a part of my Government’s vision to take Punjab to high trajectory of growth and prosperity creating large scale entrepreneurial and employment opportunities in the State.
Who is the CEO of invest Punjab 2019?
Public procurement (preference to make in Punjab) Order 2019. Mr. Rajat Agarwal, CEO IP presented the Advantage of investing in Punjab to Taiwanese investors in Hsinchu. Our policy and EoDB business reforms make Punjab the most preferred investment destination
Which is the best way to restructure Punjab Financial Corporation?
PSIEC: Restructure through down sizing, stop development of more focal points and eventually merge with PSIIDC. Punjab Financial Corporation: Pending winding up, PFC should sell units whose possession it has taken, concentrate on recovery of NPAS and down sizing.
What is the vision of the Punjab government?
New Industrial and Business Development is a part of my Government’s vision to take Punjab to high trajectory of growth and prosperity creating large scale entrepreneurial and employment opportunities in the State. The vision of the state is to create a Business friendly environment and to accomplish the mission of Ghar Ghar Rozgar.