Himachal Pradesh to Build Medical Device Park in Nalagarh with Own Funds
State Returns Central Government Money
Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu announced that the state government will build a medical device park in Nalagarh, Solan district, using its own resources. The state has decided to return Rs 30 crore received from the central government for this project.
The park will be built on 265 acres of land at a cost of Rs 350 crore. If the state had kept the central funds, it would have had to provide land, electricity, water, maintenance, and warehouse facilities at very low costs, causing a direct loss to the state treasury.
By funding the project independently, the state expects to benefit by Rs 500 crore in the next 5-7 years from the sale of land and other resources. The state government will offer incentives to industries as per its industrial policy.
Chief Minister Sukhu emphasized that the state will protect its resources and avoid burdensome incentives that would result in revenue loss. The state has already released Rs 74.95 crore for the project and will prioritize its construction.
Additionally, the state will fund a bulk drug park in Haroli, Una district, with Rs 1,000 crore from its own resources. For the Nalagarh project, the state will take a loan from SIDBI under the cluster development scheme. The park will allocate 25% of the land for medical device industries and 75% for other strategic industries, promoting industrial development and better infrastructure.
The industrial park aims to become a state-of-the-art hub, providing a regular income source for the state government and fostering economic growth.
Doubts Revealed
Himachal Pradesh -: Himachal Pradesh is a state in northern India, known for its beautiful mountains and cool weather.
Medical Device Park -: A Medical Device Park is a special area where companies make medical equipment like X-ray machines and surgical tools.
Nalagarh -: Nalagarh is a town in Himachal Pradesh where the new Medical Device Park will be built.
Chief Minister -: The Chief Minister is the head of the government in a state in India, like a principal in a school.
Sukhvinder Singh Sukhu -: Sukhvinder Singh Sukhu is the current Chief Minister of Himachal Pradesh.
Central Government -: The Central Government is the main government of India, which makes decisions for the whole country.
Rs 30 crore -: Rs 30 crore is a large amount of money in Indian currency, where 1 crore equals 10 million rupees.
State Treasury -: The state treasury is like a big piggy bank where the state keeps its money for important projects and expenses.
Rs 350 crore -: Rs 350 crore is another large amount of money in Indian currency, used to build the Medical Device Park.
Rs 500 crore -: Rs 500 crore is the expected profit or money the park will make in 5-7 years.
Bulk Drug Park -: A Bulk Drug Park is a place where large quantities of medicines are made.
Una district -: Una district is another area in Himachal Pradesh where the Bulk Drug Park will be built.
Rs 1,000 crore -: Rs 1,000 crore is the amount of money the state will spend to build the Bulk Drug Park.
Industrial Development -: Industrial development means building more factories and businesses to create jobs and make the area richer.
Infrastructure -: Infrastructure includes things like roads, buildings, and power supplies that help a place run smoothly.
