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Kerala chief minister Oommen Chandy today said the state government will offer relaxation on land ceiling for investor community if the proposed investments result in considerable employment opportunities.
"We have been facing several roadblocks when it comes to attracting investments to the state. Issues regarding the land had been one of the major roadblocks. As per the current policy, a person cannot hold land in excess of 15 acre. However, the government has decided to give relaxation to this policy with certain conditions in order to attract investors to the state," the chief minister said during the inaugural of the two-day Global (non-resident Keralites (NRK)) meet organised by the state department of NORKA and Norka-Roots here.
The government would amend land holding laws under the category of public need to serve the purpose of investments in IT parks and for similar purposes.
Relaxation in land ceiling would be granted to investments worth Rs 5 crore or those which produce job opportunities to at least 20 individuals, by allowing to possess an acre of land more. Those who invest Rs 50 crore would get land relaxation of up to 10 acres, Chandy added.
"These projects and investments would be considered as public-purpose and the government would extend all possible support," Chandy said, adding the government was looking forward at investment committments from NRKs in the IT sector in the state.
Chandy highlighted the need to make NRK meet an annual event rather than being biennale. "Currently, the NRK meet is being organised once in two years. The government is willing to organise it annually as it is the perfect platform for the NRKs to raise their issues and discuss them with the government," he added.
At the meet, finance minister KM Mani said, NRKs had been the major contributors to the state's economy and foreign remittances to the state neared Rs 85,000 crore. "In recent times, Nitaqat was among the serious issues faced by the NRKs and the state government has formulated several welfare schemes to support the Gulf returnees," he said.
He said, in order to support returnees who wish to start enterprises, the Kerala Financial Corporation (KFC) would provide an interest-free loan of up to Rs 20 lakh, while the state government would offer a ten per cent capital participation fund. "We want NRKs to make investment in hi-tech agriculture sector in the state," Mani added.
Meanwhile, IT and Industries Minister PK Kunhalikutty said the government was actively considering to promote private industrial parks in the state. "Those who possess land can set up private industrial parks and the government would extend all possible support to such projects. We want the NRKs to make considerable investments in the state," he said.
