NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News  » Business » Maharashtra downplays Gujarat's multi-crore MoUs

Maharashtra downplays Gujarat's multi-crore MoUs

March 16, 2011 11:12 IST

Maharashtra Government on Monday downplayed recent multi-crore investment proposals in Gujarat and said the state continues to be India's leading industrial state.

State Governor K Sankaranarayanan in his address to both the houses of state legislature on Monday said  nearly 169 industrial mega projects under the Mega Project Policy announced in June 2005 have been approved till February 2011.

These projects entail an investment of Rs 1,44,556 crore (Rs 1,445.56 billion) and envisages employment opportunities for 2.15 lakh persons.

He said as many as 11 projects have been approved in backward areas of the state including 70 in Marathwada and Vidarbha regions.

In order to further encourage new or expanding small scale industrial units in backward areas, the Package Scheme of Incentives is amended in July 2010 to provide for 5% interest subsidy, industrial promotion subsidy at a higher rate and other additional benefits for the year 2010-11.

The government is making all out efforts to complete the work at MIHAN project at Nagpur speedily.

State Governor said the government is formulating a comprehensive Labour Policy in order to promote harmonious relationship between employers and workmen.

On power scenario, Sanjaranarayanan said various steps have been taken for reducing the losses and controlling peak loads to make Maharashtra free from load shedding by 2012.

MahaGenco has commissioned thermal power project at Paras and Parli and it would soon commission the project at Khaparkheda.

Besides, Mahagenco's power projects at Bhusawal, Chandrapur and Koradi are also under implementation.

He also mentioned the development of 10,000 MW Jaitapur nuclear power project by Nuclear Power Corporation in the coastal Ratnagiri district of Maharashtra.

He informed that the government was involved in addressing the apprehensions of the local population.

On crop loans, the Governor said the state government was committed to provide crop loans to the farmers through banks.

For the farmers who are regular in repayment, a crop loand up to Rs 50,000 would now be completely interest free and interest rate on a crop loan beyond Rs 50,000 up to Rs 3 lakh would now be 2%.

Till February 2011, the banks have disbursed Rs 11,358 crore (Rs 113.58 billion) as crop loans and it is proposed to increase crop loan disbursement to Rs 20,000 crore (Rs 200 billion) by the year 2014-15.


BS Reporter in Mumbai