??|?? September 16, 2012 ?? 08:23am ??|
NEW DELHI: To boost manufacturing sector, the Centre and states have agreed to revise the provisions of the Land Acquisition Bill after taking on board the concerns of industry.
In a meeting on September 13, State Chief Secretaries and Principal Industry Secretaries arrived on a consensus that ?provisions of the proposed Land Acquisition Bill needed to be reworked to take care of the concerns of industry so as to ensure that growth of manufacturing was not set back,? a statement by Commerce and Industry Ministry today said.
It said the ready availability of land and work spaces available at affordable rates, along with workers housing was an essential prerequisite.
?Densification through higher FARs ( Floor Area Ratio) for intensive utilisation of land would need to be seriously pursued by the States,? it added.
Officials expressed concern over declining industrial production in the country.
?The National Manufacturing Policy goal of 12 to 14 per cent growth was achievable provided that the Central and State Governments in partnership with Industry went well beyond business as usual in promotion of manufacturing,? it said.
Decline in manufacturing sector growth pulled down the overall industrial expansion to just 0.1 per cent cent in July.
Officials also agreed on the need that the regulatory environment be made investor-friendly by reducing the number of clearances required with early transition to electronic mode of interaction with regulatory authorities at all levels.
Effective monitoring for ensuring timely clearances was critical, it said adding the processes of environment and forest clearances had delays inherent in their design and needed re-engineering.
?The states emphasised the need for some flexibility to suit their specific conditions and requirements in the implementation of the schemes of Central Government for promotion of manufacturing,? it said.
http://economictimes.indiatimes.com/markets/real-estate/news/centre-states-to-rework-land-acquisition-bill-provisions/articleshow/16413233.cms
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