Wage support, night shift for women: Punjab unveils new industrial policy, Pg12

Key Highlights:

• Punjab unveiled the Industrial & Business Development Policy 2026 to boost industrial growth.
• The policy offers investors a choice of up to 20 incentives, including capital subsidy.
• It allows women to work night shifts in industrial establishments with safety measures.
• Eligibility for employment generation subsidy reduced to Rs 25 crore investment and 50 workers.

Detailed Insights:

• The Industrial & Business Development Policy 2026 aims to provide customized incentive packages to suit various business models.
• The policy introduces capital subsidy for the first time in Punjab, offering incentives up to 100% of fixed capital investment.
• Allowing women to work night shifts aims to promote gender equality and increase workforce participation, subject to mandatory safety protocols.
• The reduction in eligibility criteria for employment generation subsidy expands access to industrial incentives for a broader range of businesses.

Key Concepts Involved:

• Capital Subsidy: Financial assistance provided by the government to reduce the cost of investment in fixed assets.
• Industrial Policy: Government strategies to promote and guide industrial development and competitiveness.