RAIPUR: The Vishnu Deo Sai cabinet on Monday approved the draft and proposal of Chhattisgarh’s new Industrial Development Policy 2024-29.”The new policy to come into effect from 01 November 2024 and will continue till 31 March 2030 carries the provisions to facilitate the inspiration of Amrit-Kaal Chhattisgarh Vision@2047. The policy has offered various stipulations to establish a new benchmark in the industrial development of the state”, said a government spokesperson after the meeting of the council of ministers chaired by the chief minister.The new Industrial Policy incorporates the Centre’s amendment of the year 2020 that revised the classification of micro, small, medium and large-scale enterprises under the MSME Development Act, 2006, based on their scale, investment limit, nature and turnover.Special provisions have been laid down in the policy to encourage the industrial growth and balanced development of the state.To fulfil the goal of the new Industrial Policy, investment incentives will be provided for the setting up of new enterprises, expansion/diversification, replacement and related works in the state.
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