Uttarakhand cabinet approves mega industrial investment and yoga policies

The Uttarakhand Cabinet on Wednesday gave its nod to policies on industrial investment and yoga, officials said.

The cabinet meeting chaired by Chief Minister Pushkar Singh Dhami approved the 'Mega Industrial and Investment Policy-2025' to establish Uttarakhand as a competitive destination for capital investment at the national and international level.

Dhami said it will help create economic development and additional employment opportunities in the state by developing a favourable ecosystem for capital investment in large-scale industries.

The policy will be effective from the date of its issuance and will remain in force for the next five years.

Industrial units expressing their intention to avail the benefits under the policy will need to apply on the single-window portal, making them eligible for financial incentives under it.

Under the policy, large enterprises have been divided into four categories based on permanent capital investments, excluding land -- Large (up to Rs 50 crore - Rs 200 crore), Ultra Large (more than Rs 200 crore to Rs 500 crore), Mega (more than Rs 500 crore to Rs 1000 crore) and Ultra Mega (more than Rs 1,000 crore).

A minimum permanent employment limit of 50, 150, 300 and 500 has been fixed for them respectively.

There is a provision of reimbursement of 50 per cent (maximum Rs 50 lakh) in the stamp duty payable on the purchase of land or execution of lease deeds for the enterprises.

The policy provides for capital subsidy of 10 per cent, 12 per cent, 15 per cent and 20 per cent respectively to the enterprises of all four investment categories, which will be payable in annual instalments after the enterprises come into commercial production in eight, 10, 12 and 15 years respectively.

An additional capital subsidy of 1-2 per cent will be given to encourage the establishment of large enterprises in hilly areas.

The state cabinet also approved the Uttarakhand Yoga Policy, claiming this was the first yoga policy of the country that would establish the state as the global capital of yoga and the wellness industry.

The main objective of the policy is to develop yoga in a way that puts it into a social, educational, economic and tourism-based model by not limiting it to only a spiritual or personal practice.

Under the policy, the government aims to work at many levels. Rules and guidelines will be set for yoga institutes to ensure quality. Yoga will also be taken to the masses, including in school and college curricula, through awareness programmes.

Some specific goals have been set under the yoga policy: at least five new yoga centres will be established in Uttarakhand by 2030, yoga services will be made available in all AYUSH Health and Wellness Centres of the state by March 2026 and community-based programmes will be started.

In another decision, the state cabinet has decided that people of the state and locally registered firms will get contracts for projects up to Rs 10 crore.