Consider the following statements 1 The state offers wide range of subsidies fiscal and policy incen...........

Punjab Economy

Consider the following statements.

1.The state offers wide range of subsidies, fiscal and policy incentives and excellent infrastructure, to provide conductive mileu to foster investments and development for industries.

2.The state has emerged as a key hub for textile based industries including yarn, readymade garments and hoisery.

3.The state has successfully established food park at Fatehgarh Sahib District.

Which of the above statements is/are correct about industrial development in the state ?

1 Only

2 and 3 Only

3 Only

All of the above

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Explanation:

The Punjab state offers wide range of subsidies, fiscal and policy incentives and excellent infrastructure, to provide conducive milieu to foster investments and development for industries. The state has emerged as a key hub for textile based industries including yarn, readymade garments and hosiery. The state has successfully established Food Park at Fatehgarh district , Biotech Park, IT Park and Electronics Township (ELTOP)
at Ajitgarh for promotion and growth of IT and electronics industry in the state.

Punjab has strong agriculture base with the huge production of principal crops. In 2016-17, production of sugarcane was recorded at 7,252thousand metric tonnes. Punjab has been ranked first in India in terms of infrastructure facilities offered. Punjab’s road, rail and air transport network, connectivity, construction of bridges and infrastructure facilities are rated among the best.

Punjab has emerged as a key hub for textile-based industries including yarn, readymade garments and hosiery. With the development of apparel parks, favourable textile policy and other incentives for the creation of textile infrastructure, the state offers opportunities for investment.