Bhopal, Apr 17: The state cabinet on Thursday amended some provisions of Industrial Promotion Policy Action Plan (Amended 2007) to make it more effective. As a result of this the policy has become convenient and result-oriented. Now, mega projects of food processing projects would be provided land on concessional rates. Earlier, land to such units was provided free of cost. Under the extension scheme, taxation period of the existing industrial units has been amended.

The state cabinet has amended the provision of giving free land to mega food processing projects under special incentive facilities and decided to give land to mega food processing projects on concessional rates.

According to a decision taken by the cabinet, changes have been effected in the present provisions regarding constitution of Madhya Pradesh Export Corporation which has now been converted into Madhya Pradesh Trade and Investment Facilitation Corporation. Now the words 'Principal Policy Advisor of state' has been replaced with the present wordings 'State Principal Policy Advisor in the present provisions for constituting Madhya Pradesh Trade and Investment Facilitation Corporation for giving fillip to investment.

According to yet another decision, period of taxation facility has been amended. In the case of capacity extension, diversification and technical improvement existing mega and medium industries, small industry units and small units of pharmaceutical sector would be given subsidy like new industries as per eligibility if they make required capital investment afresh. This provision has been in effect from April 1, 2004. The money already remitted in tax concession cases, if any, would not be refunded. The taxation facility of basic period applicable to the industrial units, would be given for the period after refund of taxes by the units. Amending this provision, the state cabinet has provided that their basic eligibility period would remain unchanged and its counting would be done soon after expiry of that period up to which the unit had deposited taxes.