Chandigarh: Nayab Singh Saini, Chief Minister of Haryana, on Friday chaired a meeting in Chandigarh to review the implementation of various incentive schemes under the Haryana Registered Vehicle Scrapping and Recycling Facility Incentive Policy, 2024, aimed at promoting the vehicle scrapping and recycling sector.

Focus on Scientific Scrapping and Investment

At the meeting, emphasis was laid on encouraging the scientific and environmentally responsible scrapping and recycling of old vehicles, while also attracting investment and generating new employment opportunities in the state.

Providing details during the meeting, Commissioner and Secretary (Industries and Commerce) Amit Agrawal said registered vehicle scrapping and recycling units will be granted industry status and will be eligible for several financial incentives.

Capital Subsidy and SGST Reimbursement Schemes

Under the Capital Subsidy Scheme, both new industrial units and units undertaking expansion will be provided subsidies on capital investment at prescribed rates. This is expected to reduce the cost of establishing such industries and encourage greater investment in the state.

It was further informed that under the Net SGST Reimbursement Scheme, eligible industrial units will receive reimbursement of a specified portion of the state GST deposited by them.

Officials said this move will provide financial relief to industries and encourage industrial investment, particularly in backward areas.

Support for Eco-Parks and Recycling Parks

In addition, under the Park Developers Scheme, financial assistance will be provided for the development of Eco-Parks and Recycling Parks, covering a specified share of the project cost excluding land.

The policy also provides for reimbursement of stamp duty on the purchase or lease of land, which will facilitate the development of modern infrastructure in the sector.

Skill Development to Create Trained Workforce

At the meeting, skill development was also given special importance.

It was informed that centres of excellence will be established for skill development, and financial assistance will be provided for conducting specialised training programmes in government ITIs, polytechnics and other training institutions.

The objective is to create a trained workforce for the vehicle scrapping and recycling sector and expand employment opportunities for the youth.

Policy Aimed at Boosting Industry and Environment Protection

Officials highlighted that the effective implementation of these schemes will give a significant boost to the vehicle scrapping and recycling industry in Haryana, while also promoting environmental protection and increasing investment and employment opportunities in the state.