In his ongoing attempt to ensure EMPLOYMENT to the youth of Uttar Pradesh in industrial units being set up in different sectors in the state, Chief Minister Yogi Adityanath announced conditional subsidies for the investors.
The government has divided the into four categories, keeping in view the increase in industrial activities in UP, and has told the investors that they would get subsidies on various items if they provided employment to the youth as per their merits and the industry standards.
The Yogi government has recently brought a new Industrial Investment and Employment Promotion Policy 2022 to provide new opportunities for investment and employment in the state. Under the new policy, the industry has been divided into four categories namely, large, mega, super mega and ultra mega, to increase investment in the state.
Under this, a large industry will have to give employment to at least 300 youths of UP every year whereas mega industry will have to provide job opportunities to at least 600 youths every year. Similarly, super mega and ultra mega industries will have to provide employment to at least 1,500 youths each every year.
The chief minister said that if an industry provided employment to 75 per cent Women in its staff in addition to meeting the minimum requirement of providing jobs, it would get a booster subsidy under different heads according to different categories of the industry.
Under the scheme, mega, super mega, and ultra mega industries will get booster subsidies of 2 per cent and 4 per cent each on provision of employment to 75 per cent women along with ensuring minimum employment as well as more than double and three times of the minimum employment, respectively.
After implementing the new policy, Chief Minister Yogi Adityanath instructed the higher officials to give the benefit of subsidy to the investors in due time so that industries could be set up on a large scale in the state at the earliest.