After a pre-Diwali bonanza to farmers in Haryana, wherein it has been decided to double the minimum floor rate for acquisition of land, the state government is giving final touches to its new industrial policy, to come out in the first week of December.
Sources in industry department told FE that public private partnership mode would be the thrust area of the new policy. Sources said that after Haryana?s land acquisition policy got praise from industry and different state governments in the country, the state decided to bring out its new industrial policy as the last industrial policy came way back in year 2005.
Sources said the thrust of the Industrial Policy of 2005 was on ?reestablish industry as a key driver of economic growth, to create wealth for the residents of the state, to generate employment and entrepreneurial opportunities across all sectors of the economy, to facilitate spatial dispersal of economic activities particularly in economically and socially backward regions of the state and to ensure sustainable development through investments in key sectors of economy?.
As against the policy of 2005, ?the Industrial Policy of 2010 likely to be announced during December 2010 would not only acknowledge the role of SMEs in state?s industrial production but also there will be a separate chapter for SME sector in the new industrial policy?, sources said.
While the Industrial Policy in neighbouring Punjab was guided by UNIDO, the new Industrial Policy of Haryana would be formulated by the Asian Development Bank.
Meanwhile, the State Government has decided to improve its own land acquisition policy by introduce by way of additional benefit, a new concept of ?no litigation incentive.? The Haryana government?s Land Acquisition Policy, evolved in 2005 and revised in 2007, had become a talking point at every forum, was commended by the Centre and followed by some states.
According to chief minister Bhupinder Singh Hooda the state has now been divided into five zonal brackets, instead of three under the old policy, for the purposes of computing the minimum floor rate.
Hooda said now the landowners would now be paid annuity amount of Rs 21,000 per acre per annum, which will be increased at the rate of Rs 750 every year for a period of 33 years. The amount paid over 33 years worked out to Rs 10,89,000 per acre. Earlier, the annuity amount was Rs 15,000 per acre per annum with an increase at the rate of Rs 500 every year.
The state government has also decided to approach the Centre for exempting the compensation amount from the purview of the Capital Gains Tax.
