Odisha Cabinet gave nod to new Industrial Policy Resolution (IPR) 2015
Odisha cabinet approved the much awaited Industrial Policy Resolution (IPR) 2015 after several rounds of consultation with different administrative departments and industry associations.
The IPR 2015 lays focus on various sectors for the next five years which includes infrastructure development, auto & auto components, agro and food processing, IT and ESDM (electronic system design & manufacturing), tourism, civil aviation, manufacturing, pharma sector, handicrafts and textiles and petroleum & petro chemicals.
State Cabinet further cleared the State Capital Region Improvement of Power System (SCRIPS) scheme and 650.64 km ambitious Biju Expressway.
About SCRIPS Scheme:
- SCRIPS is a scheme with an outlay of Rs 1,500 crore that aims to avail quality and uninterrupted power to the consumers in the twin cities of Bhubaneswar and Cuttack.
- This scheme will be implemented entirely out of state’s own finances from 2015-16 to 2019-20, which would have different components like underground cabling of important lines, smart grid and SCADA (supervisory control and data acquisition).
- Its objective is to provide 24×7 power supply to all classes of consumers in the geographical areas covered under the Comprehensive Development Plan (CDP) of Bhubaneswar and Cuttack.
Biju Expressway Project:
- It is an ambitious 650.64 km four-lane economic corridor stretching from Rourkela to Jagdalpur (Chhattisgarh) that aims to upgrade road connectivity in Naxal infested regions.
- The project got Central government nod and accordingly out of 650.64 km the state government would develop 307.44 km of roads into four-lane at an estimated cost of Rs 3,630 crore.
- The National Highways Authority of India (NHAI) would develop 183.2 km while the 160 km Sambalpur-Rourkela will be widened to four-lane standard on the PPP mode.
State government also approved 25 per cent subsidy on capital investment exceeding Rs. 200 crore and generating employment over 500 in order to promote investments in the emerging ESDM (electronics system design and manufacturing) space.
State cabinet also decided to change the names of the IT department as the department of electronics and IT and the department of employment, technical education & to as the department of skill development and technical education.
Categories: Business & Economy Current Affairs 2017