Haryana Exempts Electricity Duty For 20 Years To Attract Industries; Announces Subsidy For Firms Employing Local Youth

Haryana Government yesterday (3 November) rolled out a basket of incentives for industries to attract investments and boost employment opportunities for local youth in the State, reports Economic Times.

The Government announced an exemption of electricity duty on industries for a long span of 20 years under the Haryana Enterprises and Employment Policy 2020 (HEEP). Before yesterday's announcement, the exemption was applicable for a span of 10 years.

The State Government also announced that the industries which will employ local youth will be provided with a subsidy of Rs 48,000 per employee per year for a span of seven years.

Making the announcements, State's Deputy Chief Minister (Dy CM) Dushyant Chautala also shared that the Government was taking special measures to provide benefits to the investors by giving them a cent per cent investment subsidy in lieu of goods and services tax. He also shared that the Government planned to give special exemption in this policy to the industries for the management of residues of paddy straw and other crops.

The policy incentives for industries come at a time when the States are competing to attract investments and boost employment opportunities.