Nagpur : State Cabinet, in its first meeting after the Model Code of Conduct for Lok Sabha elections was lifted, took a decision to extend the exemption from payment of electricity duty granted to industries in Vidarbha and Marathwada regions. The exemption, which was effective for the period from 2013 to 2019, has been extended up to the years 2024. The extension will put a burden of Rs 600 crore on the State Exchequer.
Chandrashekhar Bawankule, Energy Minister and Guardian Minister of Nagpur district, stated that the Government still took the decision to enable the industries in Vidarbha and Marathwada to survive in competition. Already, the previous exemption provided a boost to industrialisation in these industrially backward regions and also generated employment opportunities. Energy Department placed the proposal in this regard before the State Cabinet. Devendra Fadnavis, Chief Minister, who chaired the meeting, took a positive stand and approved the proposal, stated Bawankule in a press release.
Under the Package Scheme of Incentives-2013, the Government was providing exemption from payment of electricity duty and stamp duty, and also VAT refund. The said scheme was applicable up to March 31, 2019. As per the Industries Policy-2019, electricity duty exemption has been granted to micro, small, and medium industries in C, D, and D+ industrial areas and in Naxal-affected areas. However, there were industries that did not fit the criteria but were in Vidarbha and Marathwada regions. Hence, the State Cabinet decided to grant exemption from payment of electricity duty to such industrial units for a period from April 1, 2019 to March 31, 2024.
The entire State of Maharashtra saw an investment of Rs 2,17,774.10 crore in energy sector alone. Of this, the investment of Rs 1,57,204.10 crore was made in Vidarbha and Marathwada regions. Now, to keep up the momentum and encourage new industries and generate more employment opportunities in Vidarbha and Marathwada, the exemption from payment of electricity duty has been extended up to 2024.
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