Bhubaneswar: The Odisha Cabinet on Saturday approved key amendments to the Industrial Policy Resolution (IPR) 2015, aimed at facilitating timely submission of incentive claims by eligible investors and aligning the policy with sectoral frameworks for smoother administration.
According to an official release, the amendments address challenges faced by industrial units in claiming incentives, often due to a lack of awareness about entitlements, certification processes, and timelines. To mitigate such issues and account for disruptions caused by the COVID-19 pandemic, the Cabinet has extended the timeline for submission of applications for incentives and certifications from one year to two years.
For cases where delays exceed two years, provisions have been made to allow condonation of such delays at the discretion of the Chief Secretary, provided the delays occurred due to circumstances beyond the control of the industrial units.
As a one-time relaxation, industrial units that commenced commercial production but failed to submit applications within the stipulated timeframe will now be eligible to file claims retrospectively, provided their applications were submitted by June 30, 2023. Applications submitted after this date will not be considered unless deemed a fit case for delay condonation by the Chief Secretary.
The Cabinet also addressed a discrepancy between the IPR 2015 and the Odisha Food Processing Policy (OFPP) 2016 regarding eligibility for incentives. An amendment to OFPP 2016 on November 13, 2018, made oil expelling, solvent extraction and refining of oil, and packaged drinking water eligible for incentives by removing them from the negative list. However, similar provisions under IPR 2015 were introduced only on August 18, 2020.
To resolve this inconsistency, the Cabinet has made the 2020 amendment to IPR 2015 effective retrospectively from November 13, 2018, aligning it with the OFPP 2016 amendment.
These policy adjustments are expected to streamline the incentive application process, enhance investor confidence, and ensure equitable treatment for industries operating under different sectoral policies.
