Haryana Chief Minister Nayab Singh Saini led a meeting in Chandigarh to assess the progress of the Haryana Registered Vehicle Scrapping and Recycling Facility Incentive Policy of 2024. The policy aims to boost the vehicle scrapping and recycling sector by promoting environmentally-friendly practices and attracting investments for new job opportunities.
During the meeting, the focus was on promoting the scientific and eco-conscious scrapping and recycling of old vehicles, with an aim to attract investments and create employment in the state. Commissioner and Secretary (Industries and Commerce) Amit Agrawal detailed that registered vehicle scrapping and recycling units will be granted industry status, making them eligible for various financial incentives.
Under the Capital Subsidy Scheme, both new industrial units and those expanding will receive subsidies on capital investments at specified rates. This initiative aims to lower the cost of setting up such industries, encouraging more investments in Haryana. Additionally, eligible industrial units will benefit from the Net SGST Reimbursement Scheme, receiving a reimbursement of a portion of the state GST they deposit, providing financial relief and promoting industrial investments, especially in underdeveloped regions.
Moreover, the Park Developers Scheme will offer financial aid for the establishment of Eco-Parks and Recycling Parks, covering a specific portion of the project cost excluding land expenses. The policy also includes provisions for reimbursing stamp duty on land purchase or lease, facilitating the development of modern infrastructure in the sector.
Skill development was also a key focus at the meeting, with plans to establish centers of excellence for skill development and offer financial support for specialized training programs in government training institutions. These efforts aim to create a skilled workforce for the vehicle scrapping and recycling sector, enhancing job prospects for the youth.
The successful implementation of these schemes is expected to significantly boost the vehicle scrapping and recycling industry in Haryana, contributing to environmental conservation and fostering increased investments and job opportunities in the state.
