States

Rs 425 crore to boost industrial growth in Odisha

By Express News Service

BHUBANESWAR: With concentrate on making a extra beneficial industrial local weather and ease of doing enterprise together with lending a serving to hand to the industries and MSMEs to tide over the pandemic influence, the State authorities has made a provision of Rs 425 crore in the Budget 2021-22 for improvement of infrastructure and allied amenities in the sector.

“Odisha is fast emerging as the manufacturing hub of eastern India’. I am proposing an assistance of Rs 155 crore to IDCO for development of quality external infrastructure for the upcoming industrial park and estates, and Rs 50 crore towards equity support,” Finance Minister Niranjan Pujari stated.

Apart from the Rs 289 crore particular Covid package deal introduced in the course of the pandemic to assist the MSMEs, the Minister has made a provision of Rs 465 crore to promote the sector, a leap of 86 per cent over the past yr’s allocation.

As land acquisition for industries is an inevitable teething drawback, the federal government has made an outlay of Rs 50 crore to create land financial institution out of which Rs 20 crore will probably be utilised for the event of Odisha financial hall.

The mining sector, the key contributor to the State income, has been given Rs 135 crore,  of which Rs 47 crore will probably be spent on additional fine-tuning the i3MS, a broadly appreciated IT-based answer for mining operations, whereas Rs 17 crore has been put aside for mineral exploration.

The handloom, handicrafts, sericulture and textile sectors have obtained allocation of Rs 163 crore. The mega textile park at Dhamra in Bhadrak district and the mega aluminium park in Angul have obtained Rs 10 crore and Rs 5 crore respectively.

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