Baligar defends land bank creation

Baligar defends land bank creation

He was delivering a lecture on ‘Road map for industrial development in Karnataka’ in Bangalore on Friday. Baligar said, suitable land was notified for ArcelorMittal in Bellary the next day the company’s project was cleared. If there was no land ready investors would not come.

He admitted acquisition of land has been a sensitive issue in the State. The government would purchase land only with the consent of farmers and they would get price above the guidance value. The government had identified 96,000 acres of land for land bank. Of that Rs 49,000 acres had been notified.

As much as 50,000 acres would be kept ready before Global Investors’ Meet, scheduled for June 2010. Over 200 companies were expected to sign MoUs for investment in Karnataka in the GIM. He said in some areas farmers had been parting with their land happily.

Investment

He said the State Government has cleared projects worth Rs 1.95 lakh crore in 2009-10 and it will touch Rs 2.5 crore by March end. In the year 2007-08 the State cleared proposals for Rs 1.70 lakh crore, in 2008-09 it was only Rs 1.10 lakh crore due to economic slowdown and so far in 2009-10 the State cleared projects worth Rs 1.95 lakh crore.

“As many as 21 projects worth Rs 58,345 crore are being processed by the State High Level Clearance Committee. They may be cleared in the next meeting of the committee”, he said.

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