Question

The 2016 Industrial Policy of Government of Jharkhand is supposed to be operational for a period of?
1.  5 years
2. 10 years
3. 15 years
4. 1 year

Answer 1

Correct Answer - Option 1 :  5 years

The correct answer is  5 years.

• Jharkhand Industrial Policy 2016 aimed to create an industry-friendly environment to maximize the investment in mineral and natural resource-based industries.

• Also to restart infrastructure development industries having viable sick units.
• This policy remained operational for a period of 5 years.
• According to the government report, the State Government may at any time amend any provision of this policy. Normally the policy will remain operational for 5 years (01.04.2016 to 31.03.2021).
• The government aimed to set up natural resource-based industries to maximize revenue and create employment.
• The government also aimed to make Jharkhand an investor-friendly destination and promote sustainable industrial growth of the state.
• Industries were classified as MSME, large industry, mega projects, and ultra mega projects. 
• The main objective of this policy is to maximise the value addition to the state’s natural resources by setting up industries across the state, generating revenue and creating employment.
• The state intends to be the most preferred destination for investors by providing a favorable business climate, excellent infrastructure, good law and order, and peaceful industrial relations. 
• The new industrial and investment promotion policy focuses on creating a conducive ecosystem that makes industries based in Jharkhand innovative and globally competitive.
• Government of Jharkhand lays utmost emphasis on sustainable industrial development anchored by capacity building at the grassroots level.