Yogi govt introduces customised packages for big projects in UP
Lucknow: The Uttar Pradesh government, led by Chief Minister Yogi Adityanath, has introduced case-to-case customised packages for ultra mega category projects of special importance in the state, a government spokesman said.
This is a part of the amended Industrial Investment and Employment Promotion Policy 2022.
The Department of Infrastructure and Industrial Development has revised the policy’s provisions to enable this initiative.
Under the amendments, a committee chaired by the CEO of Invest Uttar Pradesh will evaluate such projects and recommend special packages, said a government spokesman.
Upon endorsement by the high-level Empowered Committee and the Cabinet, customised packages will be provided for these large-scale projects. The Council of Ministers will grant final approval based on the Empowered Committee’s recommendation.
Previously, applications for such projects were reviewed by the nodal agency.
However, the amended policy now entrusts this responsibility to the committee under the CEO of Invest Uttar Pradesh.
The approval process involves the recommendation of various high-level authorities, including the Additional Chief Secretaries/Principal Secretaries of relevant departments and a negotiation committee.
Acknowledgment certificates will be issued to applicants by the nodal institution, and the evaluation process will adhere to defined provisions for mega-category cases.
These amendments aim to streamline the process of providing tailored incentives for projects deemed of special importance in the ultra mega category, ensuring efficient decision-making and promoting investment in the state.