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Policies To Attract Investments

Bhubaneswar: Odisha Government has approved at least seven different policies to attract investment in the state and boost the economy.

The decision regarding the State Cabinet chaired by Chief Minister Naveen Patnaik approving seven policies and other decisions was announced by Revenue and Disaster Management Minister Pramila Mallick in the Odisha Legislative Assembly on 30 November.

The Cabinet at its 52nd meeting on Tuesday approved 17 proposals including seven policies.

The policies which have been approved were Industrial Policy Resolution (IPR) 2022, Odisha Apparel and Technical Textiles Policy-2022, Export Promotion Policy 2022, Odisha Logistics Policy 2022, Odisha Civil Aviation Policy 2022, Registered Vehicle Scrapping Facility Policy-2022,and Odisha Tourism Policy 2022.

The Cabinet has approved Industrial Policy Resolution (IPR) 2022 for next five years. This policy aims to transform Odisha into “Industrial Hub of Eastern India” by promoting industries in thrust and priority sectors of the state.

The Odisha Apparel and Technical Textiles Policy-2022 will boost employment and enhance economic growth in the state. The policy includes incentives like Capital Investment Subsidy, Employment Cost Subsidy and Market Development Initiative.

The Export Promotion Policy 2022 will take Odisha to the league of top five exporting states, achieving an export target of Rs 3.5 lakh crore by 2026-27. The policy provision aims to diversify Odisha’s export basket by facilitating value addition, it said.

The Odisha Tourism Policy 2022 also aims to make the tourism and hospitality sector attractive for investors. The policy promotes sustainable and responsible tourism, and focuses on accelerated development of the tourism sector.

This apart, the Cabinet also approved a proposal for assessment of physical fitness for appointment to various Categories of Group B and C posts, make Odia movie Daman tax free, examination for junior stenographer, junior typist, data entry operator and junior clerks, the note said.

The Cabinet also approved a proposal ensuring a budget of Rs 294.10 crore for post harvest processing of farmers’ produce to augment their income with better marketing facilities.