Conversion of land between 15,000 & 25,000 sq mts would require chief minister’s permission
PANJIM: The State Cabinet’s approval is now mandatory for declaring or converting land above 25,000 sq mtrs as Investment Promotion Area under the Investment Promotion Act.
The State government on Thursday notified the rules under the Goa Investment Promotion Act, 2014. The rules are drafted under sub-section (1) and (2) of Section 24 of the Act.
Further, for the conversion of land between 15,000 and 25,000 sq mtrs, the approval of Chief Minister is a must while for land below 15,000 sq mtrs, the Industries Minister’s nod is binding. The Investment Promotion and Facilitation Board (IPFB)’s single window system for clearing the investment proposal is headed by Chief Minister and Industries Minister as its member.
Herald in its edition dated July 23 had reported about government drafting the rules under the IPB Act making Cabinet nod mandatory for conversion above 25,000 sq mtrs of land.
As per the notification, pursuant to the in-principal approval and recommendation granted by IPFB, the Chief Executive Officer (CEO) has to communicate the same to the Industries Secretary along with the details of the land and its ownership.
If the board considers the proposal to recommend the Government to demarcate certain portion as Investment promotion area, then it should satisfy itself of the deserving nature of the proposal.
“The IPFB must also satisfy itself after asserting material before itself that setting up of an industry in such area or overriding the provisions of a notified plan under the Town and Country Planning Act is absolutely necessary and in larger public interest,” the notification stated.
The IPFB was constituted in November 2014, and till date it has granted in-principle approval to nearly 98 projects with total investment of rupees 14,000 crores.
Herald Goa News
PANJIM: The State Cabinet’s approval is now mandatory for declaring or converting land above 25,000 sq mtrs as Investment Promotion Area under the Investment Promotion Act.
The State government on Thursday notified the rules under the Goa Investment Promotion Act, 2014. The rules are drafted under sub-section (1) and (2) of Section 24 of the Act.
Further, for the conversion of land between 15,000 and 25,000 sq mtrs, the approval of Chief Minister is a must while for land below 15,000 sq mtrs, the Industries Minister’s nod is binding. The Investment Promotion and Facilitation Board (IPFB)’s single window system for clearing the investment proposal is headed by Chief Minister and Industries Minister as its member.
Herald in its edition dated July 23 had reported about government drafting the rules under the IPB Act making Cabinet nod mandatory for conversion above 25,000 sq mtrs of land.
As per the notification, pursuant to the in-principal approval and recommendation granted by IPFB, the Chief Executive Officer (CEO) has to communicate the same to the Industries Secretary along with the details of the land and its ownership.
If the board considers the proposal to recommend the Government to demarcate certain portion as Investment promotion area, then it should satisfy itself of the deserving nature of the proposal.
“The IPFB must also satisfy itself after asserting material before itself that setting up of an industry in such area or overriding the provisions of a notified plan under the Town and Country Planning Act is absolutely necessary and in larger public interest,” the notification stated.
The IPFB was constituted in November 2014, and till date it has granted in-principle approval to nearly 98 projects with total investment of rupees 14,000 crores.
Herald Goa News
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