Govt gung-ho on investment region

The budget proposals said that the government had initiated process to set up the ITIR as a Special Economic Zone (SEZ) to give a push to the IT industry. As the region is close to the international airport it would attract investments to the tune of Rs one lakh crore.
The Region is being developed on a public-private participation model. Minister for IT Katta Subramanya Naidu has set the deadline of mid-2010 for completion of first phase of the project.

According to Principal Secretary (Industries and Commerce) V P Baligar, the government will acquire 2,000 acres in the first phase for the SEZ.
The remaining 10,000 acres will be acquired in the second phase.
The government, gearing up for the global investors’ meet scheduled for June this year, is into efforts to acquire 50,000 acres of land by March 31. It is also acquiring over 15,000 acres of land for large industries in the steel zone - Bellary and Koppal districts.

Allocation
The budgetary allocation for the industry and minerals has come down by 2 per cent of the total estimates  compared to the allocation in the previous year.
Last year the allocation was Rs 828.06 crore, while this year it is only Rs 413.53 cr.
DH News Service

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