State extends 'West Bengal Incentive Scheme' for 5 yrs

Kolkata: With the aim to garner more job opportunities, extending the 'West Bengal Incentive Scheme' for state approved industrial parks for another five years, the Mamata Banerjee government has announced a series of incentives including reimbursement of stamp duty for land purchase and free of cost installation of power sub-station for setting up "state approved industrial

parks".

Another 100 MSME parks are expected to be set up creating massive employment opportunities.

The cabinet headed by Chief Minister Mamata Banerjee on Wednesday gave its nod in extending the unique West Bengal Incentive Scheme for state approved industrial parks for another five years to felicitate setting up of private industrial parks with necessary support of the state government. The scheme was introduced in 2014 and it is expiring in September.

After the meeting, the state Home Secretary Alapan Bandyopadhyay said: "Since the policy already helped in creating lakhs of job opportunities, it is presumed that extension of the same for another five years will create more job opportunities."

As per the decision of the state government, a state approved industrial park will have to come up on at least 20 acres of land with minimum 20 MSME units. Stress also has to be given on developing ancillary logistic facility including warehouse, cold storages and godowns if the plot is of above 60 acres. It is presumed that at least 20 per cent of the total approved capital of the project will be spent for specific plant and equipment at common facility centres.

Moreover, the state government will reimburse the back end incentive for developing the basic common infrastructure of an industrial park. The incentive would be Rs 2 crore if a park will come up on plot measuring between 20 to 39 acres. Similarly, it is Rs 4 crores for 40 to 59 acres, Rs 6 crores for 60 to 79 acres, Rs 8 crore for 80 to 99 acres and Rs 10 crore for 10 acres and above.

Additional Rs 5 lakh per acre will be provided if a common effluent treatment plant (CETP) is set up. The state government will also be reimbursing the stamp duty for purchase of land to investors. A power sub-station will also be set up free of cost if land is provided by the investor and the government will also bear the

expense of constructing a maximum 1.5 km connecting road from the nearest major thoroughfare.

At present there are 14 such industrial parks on 1,300 acres of land. The state government announced that another 100 such MSME parks will be set up to generate job opportunities. Asia's largest leather park is situated at Bantala while there are hosiery parks, rubber parks and foundry parks in different parts including Howrah.