State IT policy amended | india | Hindustan Times
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State IT policy amended

india Updated: Sep 22, 2006 15:56 IST

STATE GOVERNMENT made a few amendments in its Information Technology policy on Thursday and guidelines to this effect have been issued.

Companies proposing to have fixed capital investment (excluding working capital) of Rs 10 crore and above will have the option of land at the rate of 25 per cent of the prevalent premium, subject to availability of land with the condition that investment in fixed capital is to be made within a period of three

years. Land to such companies will be allotted according to following norms. Companies with project cost of Rs 10 to 20 crore will be allotted maximum 10 acres of land as per requirements; projects costing Rs 20 to 50 crore will be given a maximum 15 acres and those between Rs 50 and Rs 100 crore a maximum of 25 acres of land as per requirements.

As per the amendment, projects above Rs 100 will be allotted land on case to case basis. The rebate will be restricted to Rs 25,000 per job created in the unit.

According to an official release, 20 top software companies and 15 IT and BPO companies identified by NASSCOM will be allotted Government land and proposals will be invited through advertisements. Applicant companies will be allotted Government land on first come first serve basis.

The applicant companies will be required to give a bank guarantee for a prescribed amount for a period of two years. The release further added that land measuring 100 to 200 acres will be allotted in each case for infrastructure development. Companies, which have completed infrastructure development, will be eligible for expression of interest.

Norms have been laid for valuation of eligibility of the companies. These pertain to annual turnover of companies, experience and the number of direct employment generated from developed infrastructure.