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UTTAR PRADESH TO OFFER CONCESSION IN MEGA PROJECTS

Image Source – worldbusinesstimes.com

Image Source – worldbusinesstimes.com

May 11, 2016

In an attempt to create investment conductive environment in the state, Uttar Pradesh government has taken several good initiatives and policy measures to benefit different sectors of economy.

To boost industrialization, Akhilesh Yadav government will give concessions for Mega Projects which in turn would attract investment of Rs 3166 crore and generate 11,645 jobs. A proposal to this was sanctioned by the Uttar Pradesh cabinet meeting in Lucknow on 18th of April.

The Cabinet presided over by Chief Minister Akhilesh Yadav approved extending various facilities and concessions worth Rs 3,184 crore. This decision will pave the way for investments from industries like LG Electronics India Pvt. Ltd, M/S Sparsh Industries Pvt. Ltd, Sukhbir Agro Energy Ltd, M/S Benett Universities, Ashar Agro Ltd in UP.

Proposals worth Rs 1,328 crore from LG Electronics India limited, Rs 324 crore from M/s Sparsh Industries, Rs 278.46 by Sukhbir Agro Energy in Shahjahanpur and another by the same firm for solar energy in Mahoba worth Rs 377.99 crore, Rs 585 crore by Benett Institute of Higher education and Rs 272.79 crore from M/s Ashar Agro Limited had been received.

The total investment would be to the tune of Rs 3166 crore and this in turn would generate 11,645 jobs in coming years.

The government has also decided to set up a separate cluster group which will invest more than Rs 1000 crore. These mega projects will be given concessions for 5-7 years.

 Concessions for Several Mega Projects by UP Cabinet

Theme Park

The UP cabinet also approved amendments in the Tourism policy for setting up theme parks and amusement parks in the state. Under the amended law, investors in this sector would get cent per cent rebate in stamp duty for purchase of land. The investors will also get concessions in Entertainment Tax for 15 years and also rebate on export of machines for first 10 years of setting up of the park. “Theme-based malls would also be included in this category. The clause of 300 acres for setting up of theme based malls has also been dropped.”

 SGPGI

The cabinet has also approved modular OT, structural glazing, ultra-partition and false ceiling in newly constructed OPD in SGPGI. The cabinet has approved Rs 104.58 crore for this project.

Similarly, the cabinet approved the construction of library, examination hall, Lecture Theatre and study rooms for students for state-run medical college in Allahabad.

Tehsil buildings

The cabinet has also approved renovation or re-construction of Tehsil and collectorate buildings. All those buildings which are in bad shape would either be re-constructed or renovated. The cabinet has asked district officials to send the proposal to the government. The state government has decided to develop Takha Tehsil in Etawah and Maholi in Sitapur as model Tehsils. The cabinet has approved Rs 11.13 crore for Takha and Rs 11.74 crore for Maholi respectively. The cabinet also approved the construction of Fire Station in Bilaspur Tehsil of Rampur.

 

Uttar Hamara applauds Government of Uttar Pradesh and Chief Minister Akhilesh Yadav for this promising outlook towards UP.

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