LUCKNOW: The UP government on Wednesday gave a nod to the ‘one district, one product’ concept by approving the micro, small and medium enterprises policy.Chief minister Aditya Nath Yogi has mentioned the one district, one product concept on numerous occasion in his speeches.On Wednesday, the concept was included as part of the MSME policy for 2017. The proposal stated that the concept would be developed and every effort would be made to ensure recognition for products both nationally and internationally.The new policy has adopted many salient features from the industrial investment and employment promotion policy. One such feature is that the MSME department would also ensure facilities for private sector if a company sets up an industrial park and estate on a 20-acre land.In the industrial policy, the facility is provided for minimum of 100-acre land.In the new policy, subsidy in the form of reimbursement of up to 50% of annual interest on loan taken to buy land, calculated on the basis of prevalent circle rate for 7 years, will be given. It is subject to a maximum of Rs 50 lakhs per annum per industrial estate.Subsidy will also be given for loan taken for building infrastructure in industrial parks/estates and for building hostel/dormitory for workers in industrial parks/estates.Similalrly, 100% exemption/reimbursement on stamp duty on the purchase of land by the first developer will be given.An expert panel would also be set up at the district level to encourage enthusiastic entrepreneurs. Men would be given a maximum of Rs 1 lakh loan subsidy and women Rs 1.5 lakh.Stamp duty exemption up to 100% would be given to those who set up MSMEs in Bundelkhand and Purvanchal, 75% for those in Madhyanchal and Paschimanchal (except Gautambuddhnagar and Ghaziabad) regions and 50% for Gautambuddhnagar and Ghaziabad districts.The state government has decided to implement Vishwakarma labour honour scheme, under which the margin money grant and interest grant facility would be provided to local artisans and traditional entrepreneurs.In another decision, the cabinet has approved setting up of consolidated village fund at block level.