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Uttar Pradesh takes steps to increase land availability for industrial development

It was suggested that auctioning of shuttered public sector undertakings (PSUs) that fall under both the industrial development department and other departments like sugar, as well as land under closed central PSUs , be undertaken to build a land bank.

, ET Bureau|
Last Updated: May 29, 2020, 01.25 PM IST
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UP migrants land

The Uttar Pradesh government has decided to make more land available for industry in the state, aiming to attract investment even as it grapples with the challenge of providing meaningful employment to the returning migrants.

In a meeting held on Thursday, between the state's industries minister Satish Mahana, chief secretary RK Tiwari as well as key officials of 18 other departments, it was suggested that auctioning of shuttered public sector undertakings (PSUs) that fall under both the industrial development department and other departments like sugar, as well as land under closed central PSUs , be undertaken to build a land bank.

Additionally, under the Land Acquisition Act, 2013 , the government decided to simplify the process of acquiring land within a distance of one kilometre each on both sides of the state's expressways. The state will also be providing land for an electronics city near the upcoming Jewar International Airport in Greater Noida.

The state is also mulling an amendment of the revenue code that could permit leasing of agricultural land for industrial units or parks, with a proposal of keeping the land use conversion fee from agricultural to industrial to a maximum of 15-20%. A proposal calling for cancellation of plots allotted for development of industries if the unit has not been set up under the stipulated time frame is also being prepared.

Chief minister Yogi Adityanath had asked government officials to prepare a plan for maintenance of a land bank that will make it easier for both domestic and overseas companies to invest in the state. Projects with which the state had signed memorandums of understanding during the two consecutive investors summits will also be reviewed in the coming week.

(Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)
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