G Mathivathanan, CMD of Industrial Promotion and Investment Corporation of Odisha Ltd
G Mathivathanan, CMD of Industrial Promotion and Investment Corporation of Odisha Ltd
Bhubaneswar: The State Level Single Window Clearance Committee (SLSWCC) on industries on Wednesday resolved to increase the price of land for setting up industries in the State.

The SLSWCC, headed by Chief Secretary B K Patnaik has decided to formulate a fresh Industrial Policy Resolution (IPR) by revising the IPR-2007 and has virtually decided to end the provision of concession-rates of land, since the actual rates of lands have increased.

“The State Government is contemplating revision in the concessional rate available to industries according to the IPR-2007,” CMD of Industrial Promotion and Investment Corporation of Odisha Ltd, G Mathivathanan told reporters after the meeting.

The Committee has decided that to link the rate of land for industrial purposes to benchmark valuation instead of getting concession, he added.

Apart from this the Committee delegated upon offering special concession on land rates for social infrastructural projects, health, education, power transmission and IT and ITES sectors.

However, the Chief Secretary advised the IPICOL to make a detailed study on the proposed provisions now in operation in other States to help take a final decision on this matter.

Source: 360 NS