On January 22, 2021, The Jammu & Kashmir’s (J&K) Administrative Council (AC) under the chairmanship of Lieutenant Governor Manoj Sinha gave its approval for the adoption of Jammu & Kashmir Industrial Land Allotment Policy, 2021-30. The policy aims to achieve inclusive growth for sustainable industrialisation & employment generation in Jammu & Kashmir.
- The policy will also cover the land allotment for health institutions, medi-cities, educational institutions & edu-cities.
- For Development of a well-structured Land Bank
- Promotion of Equitable Industrial Growth in the UT of J&K
- To ensure a Fair & Transparent mechanism for land allotment for industrial use.
ii.The Policy deals with the land-related issues which are holding back the Industrial development in J&K
- It lays down a framework to regulate zoning of industrial areas, project appraisal and evaluation & succeeding process flow.
- The zoning of industrial areas at block & municipality level will be done after taking into account factors like existing level of industrial development, location of proposed zone & level of urbanisation.
iii.Division level Project appraisal & evaluation committees will be constituted for checking application received for allotment of industrial land within 30 days.
- In case of projects whose worth are above INR 200 Crore, INR 50-200 Crore, 3 Levels of Land allotment committees namely Apex, High & Divisional will decide and allot the lands to applicants within 45 days.
- The initial lease period of the allotted lands will be 40 years; after which it can be extended upto 99 years.
iv.The allotted land will be cancelled
- Investor fails to take any steps within the time frame of 2 years
- If the Industrial unit does not come into production within 3 years
- Violation of provisions under the lease deed
- Non-cooperation of an Enterprise for a period of 5 years
v.It provides for an option of renting out 60% of the built-up area of a business enterprise to set up an additional industrial enterprise by way of a tripartite agreement.
Recent Related News:
i.September 15, 2020, Government of India announced an increase in Scholarship amount for the students of Jammu & Kashmir (J&K) under the ‘Pragati’ and ‘Saksham’ Scholarship Schemes.
About Jammu & Kashmir (J&K):
Capital – Jammu (Winter), Srinagar (Summer)
Lieutenant Governor – Manoj Sinha