Govt mulls governing body for industrial corridors

By: |
New Delhi | August 10, 2016 9:18 PM

Government proposes to form a National Industrial Corridor Development Authority (NICDA) to facilitate integrated development of industrial corridors across the country.

The corridors under different stages of implementation include Delhi-Mumbai Industrial Corridor (DMIC) and Visakhapatnam-Chennai Industrial Corridor (VCIC). (PTI)The corridors under different stages of implementation include Delhi-Mumbai Industrial Corridor (DMIC) and Visakhapatnam-Chennai Industrial Corridor (VCIC). (PTI)

Government proposes to form a National Industrial Corridor Development Authority (NICDA) to facilitate integrated development of industrial corridors across the country.

“It will channelize central as well as institutional funds while ensuring that the various corridors are properly planned and implemented keeping in view the broad national perspectives regarding industrial and city development,” Commerce and Industry Minister Nirmala Sitharaman said in a written reply to Rajya Sabha.

She said NICDA will also carry out project development activities, appraise and sanction projects, implement, coordinate and monitor all central efforts for the development of industrial corridor projects.

The corridors under different stages of implementation include Delhi-Mumbai Industrial Corridor (DMIC) and Visakhapatnam-Chennai Industrial Corridor (VCIC).

Replying to a separate question, she said government gave its concurrence for engaging Asian Development Bank for carrying out feasibility study and preparing the conceptual development plan for East Coast Economic Corridor (ECEC) linking Kolkata in the East through Chennai to Tuticorin in South in a phased manner in May 2014.

She also said the government has not approved or released any funds directly for VCIC.

However, she said, funds are needed to the tune of USD 840 million for VCIC nodes, out of which ADB Funding of USD 625 million has been approved by Department of Economic Affairs.

Remaining amount of USD 215 million shall be provided by Andhra Pradesh.

On another question, she said the government services have been identified for issuance of unique Business Identification Number (BIN).

It was agreed to by the participating ministries/departments that INC-29 form of Ministry of Corporate Affairs will be considered as common application form for 10 services. “Based on the comments received from Ministries/Departments the MCA has been requested to notify this form and to carry out the necessary software changes in the system,” she said.

The layout of the form has been finalised and the software development has commenced at eBiz end and MCA has been requested to make necessary modifications in their software to accommodate the changes, she added.

She said after development of software and audit of the same BIN, shall be launched on eBiz portal.

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