Bhubaneswar: In a bid to overcome the bottlenecks over land acquisition process for new industries, Odisha Cabinet on Monday cleared the proposal for creation of Land Bank which was brought earlier by Revenue department.
Briefing media persons about the Cabinet nod to 18 proposals including Land bank, chief secretary GC Pati said, Odisha Industrial Infrastructure Development Corporation (IDCO) would make an enumeration of government lands in different places and keep them ready for the new industries and entrepreneurs.
“Enumeration has been made and more than 1 lakh acres have been identified in different districts. IDCO has applied for 10,000-12,000 acres having potentiality for industries and it would develop infrastructure on the lands. These are known as Category A land bank in which IDCO would take over the land immediately and keep them fit for units”, Pati said.
Another is category B Land Bank in which government lands would be reserved for the future industrial purpose. “District level committees headed by collector would identify industry potential lands. When Category A lands would be exhausted, IDCO can take lands from category B and develop infrastructure”, he added.
Pati pointed out that the lands in Category A have been identified in a complex situation near Kalinganagar, Paradip, Dhamra, Koraput and Rayagada.
As per today’s approval, government would provide lands to IDCO on requisition on a long term basis. IDCO can also give sub-lease and no-objection certificates (NoCs) to the industries through which they can take loans mortgaging these lands so that they will not have to knock government doors for NoCs and sub-lease for loan against the mortgage.
The Land Bank policy provides a moratorium of five years to IDCO for payment of land premium after which the premium can be paid in five installments. This system would lessen the immediate financial burden on IDCO”, Pati maintained.