Farm land allotted for industrial have to be converted first
Karnataka has made life a lot easier for investors by doing away with the need to get farmland converted for industrial use after a project is approved by the government. The agriculture land where an investor has proposed a project is deemed converted once it is cleared at the highest level, the Chief Secretary Kaushik Mukherjee said.
This will open the flood gates for good industrial development. A high-level committee, chaired by the chief minister, clears investment pro vestment proposals above Rs 50 crore and those below that are approved by a single-window panel, headed by the chief secretary.
The Siddaramaiah government has pushed this significant change through an amendment to Section 109 of the Karnataka Land Reforms Act, 1962. The relief is applicable to educational institutions, housing and horticulture (green-house) projects as well as places of worship. Those investors failing to set up industries within the timeline prescribed will, however, have to surrender the land to the government.
This process is to be introduced by the industrial use only after the land is converted for that purpose.
Source: The Economic Times
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