New Haryana Policy Offers Capital Subsidy, SGST Reimbursement to Vehicle Scrapping Units
Haryana unveils incentives and training programs to boost vehicle scrapping, recycling, jobs, and investment in the state.
Haryana Chief Minister Nayab Singh Saini on Friday chaired a meeting to review the implementation of incentive schemes under the Haryana Registered Vehicle Scrapping and Recycling Facility Incentive Policy, 2024. The policy aims to promote the vehicle scrapping and recycling sector while boosting investment, employment, and environmental sustainability in the state.
During the meeting, emphasis was placed on encouraging the scientific and environmentally responsible scrapping and recycling of old vehicles. Commissioner and Secretary (Industries and Commerce) Amit Agrawal highlighted that registered vehicle scrapping and recycling units will be granted industry status, making them eligible for several financial incentives.
Under the Capital Subsidy Scheme, both new industrial units and those undertaking expansion will receive subsidies on capital investment at prescribed rates, reducing the cost of establishing such industries. Additionally, the Net SGST Reimbursement Scheme will allow eligible units to receive reimbursement of a portion of state GST, providing financial relief and incentivizing industrial investment, particularly in backward areas.
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The policy also includes the Park Developers Scheme, which offers financial assistance for the development of Eco-Parks and Recycling Parks, covering a specified share of project costs excluding land. Furthermore, reimbursement of stamp duty on purchase or lease of land will facilitate the establishment of modern infrastructure for the sector.
Skill development was another key focus of the meeting. Plans include the creation of centres of excellence and provision of financial support for specialized training programs in government ITIs, polytechnics, and other training institutions. The initiative is intended to create a skilled workforce and expand employment opportunities for the youth.
Officials noted that effective implementation of these schemes will give a significant boost to Haryana’s vehicle scrapping and recycling industry, promoting environmental protection, increasing investment, and generating jobs across the state.
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