Why in News?
A new policy has been approved for Jammu and Kashmir. The policy focus on the allotment of land to industrial entrepreneurs.
What are the objectives of the policy?
- To address various land-related issues that are creating hurdles in the industrial development of Jammu and Kashmir. It will be done by a framework to regulate zoning of industrial areas, project appraisal, and evaluation.
- To promote inclusive growth through sustainable industrialization and employment generation. It also includes provisions of a fair and transparent mechanism for land allotment for industrial use.
Key Features of the Policy:
- Land Allotment: The policy covers allotment of land to industrial entrepreneurs, health institutions/ medi-cities, and educational institutions/Edu-cities.
- Zoning of Areas: It proposes zoning (divides land into areas called zones) of industrial areas at block and municipality levels. Zoning will be done after taking into account existing levels of industrial development in the area, its location, and level of urbanization.
- Committees: The policy provides for the constitution of;
- Divisional Level Project Appraisal and Evaluation Committees to scrutinize applications received for allotment of industrial land within 30 days
- Apex Level Land Allotment Committee, High-Level Land Allotment Committee, and Divisional Level Land Allotment Committee to decide and allot industrial land worth Rs 200 crore, Rs 50-200 crore, and up to Rs 50 crore respectively. The time limit for allotment is within 45 days.
- Duration of Allotment: The land will be allotted to the investors on lease for a period of 40 years initially, which could be extended to 99 years.
- Cancellation: The allotted land will be cancelled in the following cases.
- Failure of the investor to take effective steps within the stipulated time of two years
- Failure of the industrial unit to come into production within three years
- Violation of provisions under the lease deed and
- Non-cooperation of an enterprise for a period of five years.
- Renting out Allotted Land: The policy allows renting out of 60% of the built-up area of a business enterprise for setting up an ancillary industrial enterprise through a tripartite agreement.
Source: Indian Express