UP govt announces 25% subsidy for defence industry

Uttar Pradesh government has decided to provide 25 per cent subsidy and 100 per cent stamp duty waiver for setting up defence industry in the state. The decision was taken at a cabinet meeting chaired by Chief Minister Yogi Adityanath yesterday.

State will also provided all facilities including power, road and fencing of land to the companies that will set up defence industries. In another big decision, state cabinet has given relief to the home buyers in Noida and Greater Noida region by giving exemption to the



builders from penal interest and other dues for the period their project is stalled due to litigation.

Builders will only get this exemption if they pass on this benefit to the home buyers. Elaborating the decision after cabinet meet, Industrial Development Minister Satish Mahana said that the benefit will apply to builders who are set to provide homes to buyers by June 2021. The state government expected one lakh new homes to be constructed by that time.