UP Cabinet approves proposal for new excise policy

Lucknow, Feb 16 (PTI) Uttar Pradesh Cabinet today approved a proposal for new excise policy for financial years 2016-17 and 2017-18.

In another important decision, the Cabinet approved a proposal to give rebate in entry tax on the cost of sugar, official sources here said.

During the meeting presided by chief minister Akhilesh Yadav it was also decided to implement the UP Micro, Small and Medium Enterprises (MSME) Policy 2016.

Under the excise policy, licencing and wholesale licencing of country-made liquor, Indian-made foreign liquor (IMFL), beer and model shops would be done on a renewal basis.

Decision to finalise the excise policy for 2017-18 has been taken in view of the assembly elections scheduled next year.

In the wake of hike in revenue targets application, processing fees and renewal fees have been increased.

On MSME, the decision has been taken to promote such industries with an objective of socio-economic development of the state under development agenda for 2015-16.

The annual growth rate of MSME would be kept at 12 per cent.

As per the new policy, district industries centers would be developed as district industries and entrepreneurship promotion centres.

Besides, World Trade Organisation Cell and Intellectual Property Rights Cell would be constituted.

The WTO cell would be constituted in UP Export Promotion Bureau. With the cooperation of private sector, source hub and marketing hub would be developed in different parts of the state.

The Institute of Design would be strengthened and its new campus developed in Lucknow.

It was also decided to develop metro rail projects in Kanpur and Varanasi as public transport system.

 

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