UP NEW INVESTMENT POLICY : BENEFITS TO MIGRANTS

As we all know over 35 lakhs migrants return to U.P during lockdown period, especially in backward eastern U.P. and Bundelkhand regions. State Government has already issued job cards to these migrants under Mahatma Gandhi National Rural Employment Guarantee Scheme(MNREGS) and also distributed food grains to these migrants.

In order to provide more benefits, to these migrants, U.P. Government brings New Investment Policy which was cleared by State Cabinet. This Policy aims to boost investment in the State's backward regions like Poorvanchal, Madhyanchal, and Bundelkhand and also create large scale employment.

As per Additional chief secretary(Infrastructure and Industrial Development), Alok Kumar " This Policy will be applicable to new investors who apply under it within six months of its notification. Existing units may also take advantage of the rules, provided they accelerate their investment as per provisions of the policy and 80% of their investment is made after the notification date. Industrial undertaking investing in expansion or diversification of existing units will not be eligible." He further said that " The New Policy make undertakings eligible for 70% reimbursement of net SGST for 12 years in Madhyanchal, subject to 200% of capital investment made during the policy period and 15 years in Poorvanchal and Bundelkhand, subject to 300% of capital investment made during the policy period. Currently, net SGST reimbursement of 70% is available to eligible Industrial units for only 10 years."

These migrants workers suffered a lot in COVID-19 lockdown. We should appreciate our Government for such a wonderful effort.

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