New policy a boost for state's SEZ investors

  • Dharmendra Jore, Hindustan Times, Mumbai
  • |
  • Updated: Jan 03, 2013 00:53 IST

The state cabinet on Wednesday approved a new industry policy that allows investors in special economic zones (SEZ) to convert these projects into integrated industrial areas (IIAs).

Under the IIA scheme, investors must use 60% of the land for primary production, but the remaining 40% can be used for residential or commercial or allied manufacturing purposes.

While the Congress said the policy aims to encourage investment in industry by getting investors of de-notified SEZs to use the land acquired for industrial purpose, the NCP said it's a way of giving prime real estate to developers and making huge profits.

Of the 146 notified SEZs — tax-free enclaves focused on exports — in Maharashtra, only 17 are operational, while 22 have been de-notified or withdrawn because of changes in the Centre's tax policy.

Around 31,000 hectares have been acquired, mostly through private deals, for the 22 SEZs.

 

also read

Inactive irrigation probe irks activists

blog comments powered by Disqus