Punjab Government Announces ₹10 Crore Subsidy for Eco-Friendly Industrial Projects
Punjab to offer ₹10cr subsidy for eco-friendly projects, says minister Sanjeev Arora
Hindustan Times
Image: Hindustan Times
Punjab's Industry Minister Sanjeev Arora announced a subsidy of up to ₹10 crore for environmentally friendly projects, including paddy straw-based plants. This initiative aims to support the micro, small, and medium enterprises (MSME) sector, ensuring ample power supply and streamlined online approvals for industrialists.
- 01Punjab will offer subsidies up to ₹10 crore for eco-friendly projects.
- 02Incentives of up to ₹7.5 crore will be provided for paddy straw boiler setups.
- 03The state government aims to ensure sufficient power supply during summer for industries.
- 04Online approval processes for industrial permits will be introduced.
- 05The government has allocated ₹16 crore to improve infrastructure in Bathinda.
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Punjab's Industry Minister Sanjeev Arora announced a significant push for eco-friendly industrial solutions, revealing that the state government will provide subsidies of up to ₹10 crore (roughly $1.2 million USD) for projects such as paddy straw-based plants. Additionally, industries that set up boilers using paddy straw will receive incentives of up to ₹7.5 crore (approximately $900,000 USD). During a meeting with entrepreneurs from various districts, including Bathinda, Mansa, and Muktsar, Arora emphasized the importance of the micro, small, and medium enterprises (MSME) sector for economic growth. He also highlighted that the Aam Aadmi Party (AAP) government is committed to ensuring a reliable power supply during the summer months. To facilitate business operations, the Punjab Small Industries and Export Corporation (PSIEC) will soon implement an online system for industrial approvals. Furthermore, the government has allocated ₹16 crore for enhancing infrastructure in Bathinda, with ₹13 crore already designated for ongoing projects. The commencement of flights from Halwara airport in Ludhiana is expected to further stimulate business in the Malwa region.
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This initiative will encourage local industries to adopt sustainable practices, potentially leading to job creation and economic growth in Punjab.
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