Kanungo Estate
Kanungo Estate

The Maharashtra government proposes to craft a new industrial policy exclusively to help the backward class industrial co-operative societies, which will provide assistance to the youth from the backward class in the state to start industries.

Munde said that the industries, which have been given money under this scheme, will be further given financial assistance. Out of the 372 backward class industrial co-operative societies, 77 societies, which come under the Class A category, are functioning as per the stipulated rules. These societies are doing well and will be given government assistance further.

He assured that the assistance will also be given to 123 Class B category societies based on their work and their current financial situation.

Also, if some of the Class C institutes can do a good job, then they will be elevated to the Class B category and the government may consider providing aid to them.

Munde directed the officers to submit a report regarding backward class industrial co-operative societies after studying the decision of the High Court. He reiterated that a new industrial policy will be formulated so that these societies can provide assistance to the backward class youth to set up industries in the state.

Munde’s announcement is crucial, as the state has its industrial policy that focuses on industrial development in both developed and underdeveloped regions. The policy has proposed a slew of physical and fiscal incentives to the investors, including the plug and play policy, whereby new investors can launch their factories here, in plots ready with infrastructure, land, water and power.

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