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Investors can buy farmland in 30 days in Karnataka soon
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SME Times News Bureau | 27 Jan, 2020
Investors would soon be able to buy agricultural land directly from
farmers within 30 days for setting up their industries in Karnataka,
state Chief Minister B.S. Yediyurappa said on Saturday.
"We are
amending section 109 of the Karnataka Land Reforms Act in the ensuing
budget session of the assembly in March to enable investors buy lands
from farmers in the state directly in a month," Yediyurappa told
reporters here on return from the 50th World Economic Forum (WEF) annual
meeting at Davos in Switzerland from January 21-24.
To improve
the ease of doing business in the southern state, the 60-day limit for
land acquisition will be reduced to 30 days after the Act is amended by
the Assembly.
"If the land acquisition process is not completed
in the two-month limit, the state government's approval can be deemed
given for the investors to take possession of the land for building
their production facility," asserted the Chief Minister.
State
Industries Minister Jagadish Shettar said of the 30,000-acre land bank
earmarked for industrial development across the state, about 12,000
acres was ready for allotment to investors.
Yediyurappa showcased
the state's infrastructure and natural and human resources at a road
show on the sidelines of the 5-day WEF meet for prospective investments
in the manufacturing, services and agriculture sectors.
"Potential
investors at the summit expressed concern over the delay in land
acquisition across the state due to procedural and bureaucratic
hurdles," recalled the chief minister.
Clarifying that section
109 of the Land Reforms Act would not be removed but amended for the
benefit of the farmers and investors, the Chief Minister said his
government was committed to provide ease of doing business in the state
so as attract global investment in diverse verticals, especially
infrastructure, services, manufacturing and agriculture to double the
farmers' income.
As part of its new economic and industrial
policies, the state government is also simplifying the rules to convert
farm lands for industrial use.
"The online procedure will be
simplified for land conversion in 30 days, failing which their
application will be deemed approved to start building activity,"
reiterated Yediyurappa.
A three-day Global Investors Meet (GIM
2020) will be held in this tech city on November 3-5 to attract
investments from across the country and overseas.
"The response
to our first road show on GIM was encouraging as about 100 global firms
attended it and expressed interest in investing in the state," noted
Yediyurappa.
Asked if the state government had investment
estimates at the GIM, the Chief Minister said it would be in thousands
of crores, as several international firms were keen to invest in the
state across verticals.
Besides Shettar, state chief secretary
T.M. Vijay Bhaskar, additional chief secretary E.V. Ramana Reddy and
Industries principal secretary Gaurav Gupta were part of the 10-member
state delegation that participated in the WEF summit.
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