Gujarat Cabinet Okays new industrial policy, SPV for Ahmedabad Metro Rail projectJanuary 01, 2015
The Gujarat government is all set to announce its much-awaited industrial policy ahead of the Vibrant Gujarat Summit to be held between January 11 and 13.
Confirming the developments, a senior government official said the state has approved the draft policy during the cabinet meeting held at Gandhinagar today.
“Since Vibrant Summit is approaching, state government is expected to announce the policy within the next couple of days to send a favourable message to the all the corporates wanting to invest in Gujarat. Before making the final announcement, the state cabinet today discussed the draft industrial policy in their meeting today,” the official close to the developments said.
Sources revealed that the new Industrial Policy for 2014-19 will give special emphasis on micro, small and medium enterprises (MSME) sector with an array of incentives.
The new policy is expected to give special attention to the young and women entrepreneurs. Prime Minister Narendra Modi’s ambitious ‘Make In India’ programme has also been kept in mind while framing the new policy.
Apart from the policy, the state Cabinet also said to have given its approval to form a Special Purpose Vehicle (SPV) for the pending work of Metro rail project in Ahmedabad.
“The Cabinet has approved the formation of SPV for Metro rail project. This will expedite the work related to the project,” the official said.
The decision came two months after the central cabinet approved Rs 10,773 crore grant for the phase-1 of the Metro rail project covering 36 km. This project includes North-South corridor from APMC to Motera and East – West corridor from Vastral to Thaltej in Ahmedabad city. In the Phase-2, the Metro rail will connect Ahmedabad with Gandhinagar.
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