CM: Govt plans higher FSI for industrial units outside MIDC

Chief Minister Prithviraj Chavan on Saturday said that the state government was considering granting higher floor space index (FSI) to industrial units outside Maharashtra Industrial Development Corporation (MIDC) areas.

Speaking to reporters in the city after a meeting with city-based industrialists and businessmen at the Mahratta Chamber of Commerce Industry and Agriculture (MCCIA), Chavan said the state has proposed additional FSI of 0.5 for industrial units in the MIDC areas and would consider offering a similar relaxation to industries outside MIDC industrial estates.

Chavan said the state would retain its investment-friendly image and continue to attract investment from national and international companies. "Internationally, there's a scenario of economic gloom but I am confident Maharahshtra will retain its position as the number one investment destination in the country," said Chavan.

Last week Chief Minister had unveiled state's new industry policy — Magnetic Maharashtra, Brand Maharashtra —which is perceived to have been designed to ensure micro-small-medium enterprises add to the state's growth in terms of revenue and jobs. The new policy also envisages an investment of Rs 5 lakh crore and creation of 20 lakh direct or indirect jobs over the next five years.

"New policy proposals presented in the recent cabinet meeting are yet to be approved and recorded. The policy document will take final shape after the approval," said Chavan. The new policy will come into effect on April 1, 2013, he said.

"The government is studying the issue of land acquired for SEZs, which remains unutilised. The Centre has withdrawn tax concessions that it had offered to industries setting up units in SEZs. We will have to consider the matter and arrive at a solution that encourages investment and employment."

Chavan also said the state government was positive about replacing Octroi with Local Body Tax. "IF any amendments are required for the change, the state government is more than willing. Industry associations should help the state in implementing local body tax," said Chavan.

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