India News | K'taka Assembly Passes Spl Investment Region Bill with Thrust on Industrial Growth

Belagavi, Dec 27 (PTI) With an aim to boost investments and help setting up industries in the state, the Karnataka Assembly on Tuesday passed the Karnataka Special Investment Region Bill.

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The state government said the Bill aims to establish, operate, regulate and manage the large or mega or super mega size investment regions and industrial areas in Karnataka.

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This Bill will enable economic activities with world-class infrastructure, premium civic amenities, centres of excellence and proactive policy framework and set up an organisational structure, a government statement said.

The government can declare an existing or proposed investment region to be a special region and determine its geographical area.

This Special Investment Region (SIR) will be out of the jurisdiction of the local authority.

"An SIR declared under this Act shall cease to be under the jurisdiction of a local authority to the extent it relates to the provisions made under this Act," read the Bill.

The Bill enables Karnataka Industrial Area Development Board (KIADB) to be Special Investment Region Apex Authority. The government can also establish a Regional Development Authority for the SIR.

The notable aspect is that the proposed Act will overside other state laws.

"The provisions of this Act shall have effect, notwithstanding anything inconsistent therewith contained in any other state laws for time being in force," the Bill read.

However, Congress MLA R V Deshpande expressed his apprehension that the Act was in conflict with other laws.

"We are not against industrial development, which will generate revenue and employment but this Act overrides other laws," the senior Congress legislator said.

However, Minister for Large and Medium Industries Murugesh Nirani said the purpose is only to avoid harassment of investors.

Some other legislators expressed their fear that the new Bill will aid turning land acquisition into a real estate business as had happened in the past.

They also said that in the past many large land parcels acquired from farmers for industrial areas did not serve the purpose because it was only used for real estate businesses.

In his reply, Chief Minister Basavaraj Bommai said he had ordered a land audit three months ago to find out why no industries came up despite the allotment of land.

"My slate is clean. I am under no obligation. We will recover the land, which remained unused despite allotment," the Chief Minister told the House.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)