Maharashtra to set up Rs 500-cr 'critical fund' for infra

Government unveils new industrial policy 2013-2018 with the objective of attracting Rs 5 lakh crore investment within a time period of next 5 years

The state government of Maharastra will set up a critical industrial infrastructure Fund with an initial corpus of Rs 500 crore will be set up for creating necessary industrial infrastructure.

The government  unveiled its new industrial policy 2013-2018 with the objective of attracting  Rs 5 lakh crore investment  within a time period of next five years. The policy will be valid till March 31, 2018.

The industrial policy proposes a single taxation point for industrial clusters through suitable amendments to statutes to do away with the multiple taxation faced by industrial areas under municipal corporations, municipal councils, gram panachayats etc.

In leveraging the mega infrastructure project - Delhi Mumbai Industrial Corridor, it proposes three new secondary growth corridors to bring underdeveloped areas of Vidarbha, Marathwada and Konkan under the industrial zone with greater emphasis on food and agro processing, engineering and electronics and logistics and warehousing.

For quicker conversion of proposed special economics zones into operational zones, the government will continue with the existing police of tax exemption for next five years as well. These are time bound refund of value added tax, exemption from payment of royalty on excavation of minor minerals within SEZ, exemption from payment of non agricultural tax and stamp duty exemption for land acquisition.

Under Delhi Mumbai industrial corridor, the state will further develop mega industrial park at Shendra, district Aurangabad, Dighi industrail area in district of Raigad, mega industrial park at Sinnar, district Nashik, multi modal logistics park at Talegoan, district Pune, mega industrial park at Dhule, two 1000 megawatt gas based power plant at Vile Bhagad, district Raigad and Indapur, District Pune.