Kerala government on Thursday unveiled a set of initiatives that will enhance the ease of doing business, including a wage subsidy scheme for the first five years for new ventures getting registered from April 1, 2020. Asserting that the investment ecosystem prevailing in Kerala is one of the best in the country, chief minister Pinarayi Vijayan said the government was committed to carry on with its policy initiatives to simplify investment procedures.
“The investment climate prevailing in the state is most conducive. This is especially significant at a time when certain parts of the country and the world are in the grip of tension and anxiety. Here is an ideal destination where investment can be made in diverse sectors without having any tension or anxiety,” the chief minister said while inaugurating the two-day ASCEND Kerala 2020 global investors meet here, showcasing over 100 major projects before the leaders of industry.
Recalling a string of legislative and procedural initiatives put in place by the state government, the chief minister said many more such measures are on the anvil to enable a fast, transparent and corruption-free investment regime.
A proposal to subsidise part of the wage commitment of newly set up industries for the first five years is planned. “This is a scheme under consideration. I don’t want to go into its details. This benefit will be available only to those units which provide ESI and PF benefits to workers. I also want to say at this stage that women employees will get at least Rs 2,000 more than their men counterparts under the proposed scheme. An estimated 37 lakh people will benefit ,” he said.
Seeking to remove the land constraints faced by big units, the 15-acre ceiling on the land to be held by them will be relaxed. The units investing more that Rs 250 crore and providing over 1,000 jobs will be entitled to this concession. Necessary changes will be made in the land legislation act to enable this. The bar on women factory workers being put on night shift will be lifted. It will be the responsibility of the employer to ensure their safety, the CM said.
The ceiling for financial aid from Kerala Industrial Development Corporation (KSIDC) will be raised from the current Rs 35 crore to Rs 100 crore. In certain cases, KSIDC can also provide higher amount, the chief minister said.
Measures will also be taken to ensure greater involvement of local bodies in industrial promotion and job generation, he said and added that steps are also afoot to improve labour relations to ensure the smooth functioning of units right from the start and improve technical capabilities and skilled workforce.
“Though a small state, we have several inherent strengths that make us different, including our natural assets and highly qualified human resource. Now is the time to properly leverage them to bring in substantial investment, which is essential to generate income and employment for the present and future generations,” the chief minster maintained.
Source: Financial Express
