Setting up Industries in Hindi Heartland to get easier

Lucknow: Investors in U.P. will now have easy access to land for setting up industries in private industrial parks. To develop at least 10 acres of land as a private park, the government will give loan at only one percent interest rate.

Similarly, investors coming to the state through the Global Summit will be given land to set up industries at a place of their choice.

The MSME department has made a ‘pledge’ scheme for this. Under this, any person in the state can develop a private industrial park on his private land and sell his plot to the investor. Taking forward the resolution of the state government to develop that land, it will give easy loan to it.

The land will be mortgaged to the government for the duration of the loan. A fixed amount will be given as loan at only one percent interest. With this amount, the land owner can get infrastructure work done on his land. For example, along with the availability of water and electricity there, land leveling, sewerage and other construction works necessary for the industry can be done.

Without this it is not possible to develop industrial plot on that land. According to departmental sources, all the people having large area of land in all the districts in the state have approached the government and want to give their land to the investors for setting up industries at a reasonable rate.

Benefits to both landowners and the government

The government is arranging land through various authorities to land thousands of MoUs being done through the Global Summit, but in view of the shortage of land, it has now been planned to encourage private land holders so that investors can set up their homes wherever they want.

Take land according to need. The advantage of this to the government is that it will not have to acquire the land, nor will it have to pay four times more than the market rate.