GUWAHATI, June 6 ? The new Industrial Policy of the State Government for the year 2002 is expected to simplify and streamline the operational guidelines and procedures with a view to ensuring removal of hurdles faced by entrepreneurs and investment in setting up industries in the State, and also to take care of the introduction of Value-added Taxation (VAT) with effect from April 1, 2003. Hiranya Bora, Chairman of Assam Industrial Development Corporation (AIDC), said this at a conference on formulation of the new Industrial Policy of Assam here today.
The Industrial Policy declared in 1997 ceased to be operative with effect from April 1, 2002. Initiating the discussion, Sri Bora underscored the need for a need-based and progressive policy with realistic incentives and packages to facilitate industrial growth. He also invited the participants that included representatives from Federation of Industries of North Eastern Region (FINER), All Assam Small Scale Industries Association (AASSIA), Assam Manufacturers? Association (AMA), North Eastern Chamber of Commerce (NECC), Kamrup Chamber of Commerce (KCC) and North Eastern Small Scale Industries Association (NESSIA) besides a few distinguished industrialists, to suggest detailed modalities for including the VAT system vis-a-vis incentives relating to tax. The suggestions put forward by the participants related mostly to tax exemption, infrastructure development, lowering of power tariff, simplification of official procedures and rules and regulations, steps to safeguard small scale industries, introduction of ?single window? system, etc.
At the end, it was decided that various industry and trade associations and leading industrialists would give their suggestions in writing to the AIDC Chairman within 10 days which will be followed by another meeting of representatives on June 21 to formulate the final views on the policy.
Earlier, the AIDC Managing Director, H K Sharma, spoke about the present steps taken by the Government to formulate the new Industrial Policy. He also advocated a structural approach to the issue primarily on four fronts ? infrastructure, power, taxation and labour. He elaborated in detail about the need for segregating the policy aspect and the reform aspect although both were complementary to each other.