'Chattisgarh's High Industrial Development Rate Result Of Industrial Policy' | SupportBiz


'Chattisgarh's High Industrial Development Rate Result Of Industrial Policy'

Tags: Chattisgarh

New Delhi: The Chhattisgarh government said state's rate of industrial development has reached 6.07% post implementation of its second industrial policy.

"As a result of successful implementation of Chhattisgarh Government's second industrial policy under, the rate of industrial development in state has reached 6.07 per cent," an official statement said.

The process to formulate the third industrial policy is underway as per the instructions of CM, it said. Format of the policy is being finalised on the basis of the major changes that have taken place industrial sector due to recession, privatisation and globalisation, it added.

In the first year of the second industrial policy (2009-10), state had recorded export worth Rs 1,675.16 crore, which was increased to Rs 7,701.66 crore in 2013-14.

State government had collected Rs 4,470.69 crore from various industries in Chhattisgarh by means of central duty and service tax in year 2009-10, while the revenue collection from same sources jumped to Rs 7,889.76 crore in the last fiscal, it said.

The state government right from the beginning focused on drafting policies to boost up core-sector keeping in mind the availability of coal, iron-ore, bauxite, dolomite, limestone and other minerals in Chhattisgarh.

Out of the 121 MoUs signed under the second industrial policy, 60 projects have already been started and execution of remaining 61 MoUs is under process, the release said. Capital investment of nearly Rs 44 crore have been embarked towards these projects, it said.

Chhattisgarh produces nearly 15 million tons of steel, which is 30 per cent of country's total steel production capacity while the annual production of cement in the state has reached 18 million tons, which is 15 per cent of country's total production capacity. Similarly, annual aluminium production capacity of the state has also reached 3 lakh 50 thousand tons, which is 30 per cent of country's total production capacity.

Chhattisgarh has become self-dependent in terms of electricity production, it claimed.