INDUSTRIAL POLICY OF MAHARASHTRA 2001
Maharashtra has been the Leader on industrial front of India. It has always been the endeavour to develop sustaining industrial growth, facilitate speedier flow of investment by creating conductive industrial climate in the State. Maharashtra has developed a solid base of industrial infrastructure, strong Human Resources, and sustaining and divers industrial base. This was possible because Maharashtra pioneered several policy initiatives, since inception, in diverse fields.
The economic reforms initiated in the country in 1991 brought about a paradigm shift in the approach to economic growth, industrialization and income distribution. A number of control regimes were dismantled in the areas of industrial policy, taxation, export-imports and foreign investment. De-licensing of industry, de-reservation of the public sector, casing of competition controls, reduction of import tariffs, deregulation of interest rates, and opening up of capital markets were among the reforms undertaken to encourage investment and capital formation.
The Industrial Policy of Maharashtra 1993 mainly aimed at simplification of procedures and rationalization of rules and the Industry, Trade & Commerce Policy 1995 aimed at empowering people at all levels with special focus on infrastructure development with private sector participation. A comprehensive Information Technology Policy was announced in 1998, keeping in view the importance of the financial sector, media and entertainment, and health, education and research.
Strategies:
The State has entered into the phase of second generation economic reforms, with emphasis on structural changes in addition to fiscal incentives for the promotion of industry and balanced regional growth. This has coincided with increasing international competition and rapid technological changes, which pose new challenges for industry. The Industrial Policy 2001 set out below has been formulated in this context, keeping in view the objectives of sustained growth and employment and an expansion in livelihood opportunities. It supplements the provisions of the Information Technology and other sectoral policies announced earlier. The components of the new Package Scheme of Incentives contained in this Policy will be operative from 1st April, 2001 upto 31st March, 2006
Maharashtra State Financial Corporation
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