5 days ago
U.P. govt to offer more incentives, flexibility in new EODB measures
The Yogi Adityanath government in Uttar Pradesh is preparing to introduce new ease-of-doing-business (EODB) measures under the PLEDGE (Promoting Leadership and Enterprise for Development of Growth Engine) Park Scheme, which is being revamped to offer developers more flexibility and incentives, officials said.
According to the state government, the MSME department has drafted a detailed proposal for amending the existing provisions of the PLEDGE Park Scheme to make it more developer-friendly.
Once approved, these changes will provide new advantages, including land use flexibility and reduced development charges.
At present, the scheme allows private investors to establish industrial parks on 10 to 50 acres of land, offering benefits like stamp duty exemption, subsidised interest rates on loans, and financial support.
The proposed amendments aim to boost participation by introducing significant reforms. These include permitting up to 10 per cent commercial and business activities within the parks, easing land use conversion regulations, and offering concessions in development charges, officials said.
To fast-track industrial park approvals, the revised policy may authorise the director and commissioner of industries to approve layouts and building maps. Further, the uniformity in stamp duty rates for PLEDGE Park-related transactions is being prioritised, and the power to approve stamp duty exemptions may also be extended from district magistrates to deputy commissioners of industries, officials said.
The government plans to develop a better road network to and from the parks. Developers will also benefit from relaxed norms reducing the required external road width from 12 metres to 7 metres.
