IMPACT OF SPECIAL INDUSTRIAL PACKAGE ON THE GROWTH OF HIMACHAL PRADESH

The special industrial packages of incentives has granted by the government of India in 7, January, 2003. It has been enhanced by the industrial policy and incentives rules, 2004 which provides more incentives to the prospective and present entrepreneurs in the state of Himachal Pradesh., in the form of tax concessions, concessional rates of electricity duty, special incentives for setting up of industrial units in the backward and tribal regions of the State, financial and non financial incentives for training and development of human capital. The present study revealed that as on 31.03.2015 there are 502 Medium & Large Scale Industries registered in the State having an investment of Rs. 11,300.6lakh and have provided employment to 60,794 persons. In addition, there are 40,029 registered Small Scale Industries having an investment of about Rs. 7,00733lakh and have provided employment to 2, 23,805 persons. A good number of MSMEs have come up particularly in Solan, Sirmour and Una districts of the state which has changed the industrial scenario of the state significantly. Hence, it can be concluded that there is a considerable escalation of industrial units, employment opportunities, Per Capita Income and infrastructure development due to the grant of special incentive package to the state of Himachal Pradesh.