×
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

UP cabinet passes proposal to make law on creating Special Investment Regions

This proposal to bring legislation of SIR was approved in the cabinet meeting held in Lok Bhavan chairmanship of Chief Minister Yogi Adityanath.
Last Updated : 02 July 2024, 14:23 IST

Follow Us :

Comments

Lucknow: In a bid to make Uttar Pradesh a one trillion dollar economy, the Uttar Pradesh government on Tuesday passed a proposal to make a law on Special Investment Region (SIRs) to attract big investments in the state.

This proposal to bring legislation of SIR was approved in the cabinet meeting held in Lok Bhavan chairmanship of Chief Minister Yogi Adityanath.

The proposal has been named NIRMAN (Nodal Investment Region for Manufacturing) and will be made an Act, an official said.

Through this, the big investors of the country and the world can be attracted to invest in UP, he said.

The official also said according to the proposal, at least four such SIRs will be created in UP, which will be in the four geographical areas of the state. He said the state has around 20 thousand acres of land bank available.

He said according to the proposal passed by the UP cabinet, at least four such SIRs will be created in UP, which will be in all the four geographical areas of the state.

This decision of the government will promote ease of doing business. Along with this, economic development will get momentum, while the general public will get new employment opportunities, he said.

The official said this type of Act is currently in place in three states, which include Gujarat, Rajasthan and Karnataka. In this way, UP will become the fourth state to implement such a law.

He said that the SIRs are major investment regions where cluster development takes place and the power vested in the state government or other departments is decentralised at the authority level.

The official said the purpose of the state government to make a law to this effect is to create big investment regions and provide them legal protection.

He said for the target set by UP to become a one trillion dollar economy, it is necessary that the state has to create big investment regions. He said right now the state has not fixed the minimum limit of land for investment in the Act.

But just like UP has have established the Bundelkhand Industrial Development Authority, for which an area of 5,000 hectare has been kept, similarly a large area will be kept in the SIR, he said.

In order to promote a favourable environment for industrial investment in the state, the proposal for signing a Memorandum of Understanding (MOU) between India Trade Promotion Organisation (ITPO) and Micro, Small and Medium Enterprises (MSME) was also approved in the cabinet.

Parliamentary Minister Suresh Khanna said on lines of Bharat Mandapam in Delhi, a big convention centre or multipurpose hall will be built in Lucknow and Varanasi where people associated with MSME will be able to display their products.

"Through this, not only industrial investment will be promoted, but people associated with MSME will also get encouragement. MSME production in the state will get a huge boost with this," Khanna said.

National and international level trade fairs are organised continuously at Bharat Mandapam in Delhi, Now such events will be possible in UP as well, he said.

The UP cabinet has also approved the proposal to temporarily employ 2,200 teachers, who were removed from service in 2023 on the orders of the Supreme Court orders, on honorarium in non-government-aided secondary schools.

Khanna said the posts of teachers are vacant in non-government aided secondary schools, which is affecting the teaching work.

"In such a situation, to conduct the educational work smoothly, more than 2,200 teachers who were relieved from service on the orders of the Supreme Court in 2023 are being given the opportunity of reappointment on a temporary honorarium of Rs 25,000-30,000. Teachers who will teach in class 9 and 10 will be given Rs 25,000 and those who will teach in class 11 and 12 will be given Rs 30,000," he added.

ADVERTISEMENT
Published 02 July 2024, 14:23 IST

Follow us on :

Follow Us

ADVERTISEMENT
ADVERTISEMENT