Finance dept cautions against concessions to industry

Mumbai: The state finance department has asked the industry department to conduct a detailed study of the beneficiaries of its incentive schemes and only then give further incentives. The department had opposed the dilution of norms under the schemes for provision of benefits. In the backdrop of the Magnetic Maharashtra conference and the endeavour to attract investment, the warning note sounded by the department is significant. The government has given permission to include lands in eco-sensitive areas, buffer zones as well as tribal lands as benefits for builders, but it will create more issues, said senior officials.

The state has taken policy decisions to boost industries and builders for integrated special township in the backdrop of the Magnetic Maharashtra meet, which will be inaugurated on February 18 by PM Narendra Modi. 

The finance department, however, has opposed most of the decisions about giving concessions to industries, builders for integrated township scheme, giving mega project status and diluting the norms of industrial and tourism policy for the Maharshi Vedoddharak Foundation and Maharshi Vedic Health Pvt Ltd. These sanctions and concessions were given on Tuesday by the Cabinet.

The state government has relaxed the land requirement norms for the integrated township scheme and given permission to purchase denotified land from SEZ, tribal lands, government lands and lands in eco-sensitive areas after taking legal permissions. It will give incentive FSI under the integrated township scheme to the builder.  A Navi Mumbai integrated township project, which is near the proposed airport, for which denotified SEZ land may be utilised, will benefit from these decisions, said senior officials.