UP Governor Signs On New Policy to Make State 'Aatmanirbhar' on Oxygen

Yoga24

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posted on 3 years ago — updated on 1 second ago

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UP required about 1200 Metric Tons (MTs) of Oxygen daily in the current wave while the state has the production capacity of only 339 MTs.

Taking lessons from Oxygen shortages faced by many states during the second Covid wave, the Yogi Adityanath government has approved a new policy to encourage setting up of Oxygen generation units in the state by offering incentives to manufacturers. The state government will provide a capital subsidy up to 25 percent and a full waiver in stamp duty.

UP required about 1200 Metric Tons (MTs) of Oxygen daily in the current wave while the state has the production capacity of only 339 MTs. It had to procure additional 894 MTs Oxygen from other states during the crisis.

“There is a need to strengthen the entire infrastructure of Oxygen generation and make Uttar Pradesh Atmanirbhar (self-sufficient) in Oxygen generation. We will encourage investments for Oxygen generation in the state which would also create jobs,” the copy of ‘UP Oxygen Production Incentive Policy, 2021’ approved by the Governor on May 16 and accessed by News18 reads.

The policy would cover new or expansion units for Oxygen generation and manufacturers of Oxygen cylinders, Oxygen concentrators, cryogenic tankers and equipment for Oxygen distribution and transport and who are willing to invest over Rs 50 crore in the enterprise by buying land, building and machinery for the purpose. The eligible units would be given a capital subsidy of 25 percent if they set up a unit in Bundelkhand and East UP, 20 percent if the unit is in central UP and 15 percent if the unit is set up in West UP. The units in these areas will also get a stamp duty waiver of 100 percent, 75 percent and 50 percent respectively.

The policy would be effective for the next 30 months and will be eligible for incentives if an enterprise if being expanded, at least a 25 percent increase in investment would be required. A committee of officers as been set up to screen the investment proposals under the new policy and projects worth till Rs 100 Cr would go before a Minister for approval while projects promising investments over Rs 100 Cr would go before the State Cabinet, the policy says.

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