Chandigarh, March 13 (IANS) Haryana Chief Minister Nayab Singh Saini on Friday chaired a meeting here to review the implementation of various incentive schemes under the Haryana Registered Vehicle Scrapping and Recycling Facility Incentive Policy of 2024 that is aimed at promoting the vehicle scrapping and recycling sector.

At the meeting, emphasis was laid on encouraging the scientific and environmentally-responsible scrapping and recycling of old vehicles, while also attracting investment and generating new employment opportunities in the state.

Providing details during the meeting, Commissioner and Secretary (Industries and Commerce) Amit Agrawal said registered vehicle scrapping and recycling units will be granted industry status and will be eligible for several financial incentives.

Under the Capital Subsidy Scheme, both new industrial units and units undertaking expansion will be provided subsidy on capital investment at prescribed rates, which will help reducing the cost of establishing such industries and encourage greater investment in the state.

It was further informed that under the Net SGST Reimbursement Scheme, eligible industrial units will receive reimbursement of a specified portion of the state GST deposited by them.

This will provide financial relief to industries and encourage industrial investment, particularly in backward areas.

In addition, under the Park Developers Scheme, financial assistance will be provided for the development of Eco-Parks and Recycling Parks, covering a specified share of the project cost excluding land.

The policy also provides for reimbursement of stamp duty on purchase or lease of land, which will facilitate the development of modern infrastructure in the sector.

At the meeting, skill development was also accorded special importance. It was informed that centres of excellence will be established for skill development, and financial assistance will be provided for conducting specialised training programmes in government ITIs, polytechnics and other training institutions.

The objective is to create a trained workforce for the vehicle scrapping and recycling sector and expand employment opportunities for the youth.

It was highlighted that the effective implementation of these schemes will give a significant boost to the vehicle scrapping and recycling industry in Haryana, while also promoting environmental protection and increasing investment and employment opportunities in the state.

–IANS

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