Lucknow: To accelerate industrialization among the economically backward classes, the state government has approved the new Rapid Investment Promotion Policy 2020. In the wake of the Corona epidemic, the government has prepared this policy with the intention of creating permanent employment opportunities in Purvanchal, Madhyanchal and Bundelkhand.

According to this, there will be a maximum reimbursement of 300 percent of the capital investment in the cities of Purvanchal and Bundelkhand and 200 percent in the cities of Madhyanchal. This reimbursement will be done as SGST. The Cabinet Investment by Circulation Permission has been granted to the Rapid Investment Promotion Policy-2020 on Monday.

In the same issue of June 23, due to Corona epidemic, the issue of the return of a large number of migrant workers in Awadh and Purvanchal region of the state and the need for new employment opportunities were raised here. Through this policy, the UP government has made clear the way for setting up large industries in such areas and generating permanent employment from it. According to sources, this new policy will be applicable to new projects of mega and higher category. Under the policy, industrial enterprises of Mega and Mega Plus category will have to start commercial production within 30 months and Super Mega units within 42 months from the date of notification of this rule for eligibility. Along with this, many changes have taken place due to Corona, and many types of losses have also occurred during this period.

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