An industrial-friendly policy or a ploy to mop up funds?

Scepticism over proposal to issue sale deed of allotted land to industrialists

Is the move to issue sale deed of the allotted land to industrialists on successfully running an enterprise for two years, a gimmick to garner additional funds ahead of the elections slated for next year ?

The State Cabinet recently cleared the proposal to amend the KIADB provisions and was announced by the Industries Minister Murugesh Nirani in Bengaluru on Saturday. But stakeholders in the industrial sector have aired their scepticism over the proposal. Though it appears to be an industrial-friendly move on the surface, they describe it as an effort to mop up funds.

Speaking on condition of anonymity, entrepreneurs believe there will be a veritable rush by the allotees to get the sale deed and a lot of money will change hands which is expected to come in handy for the party in power during the elections.

“The issue of sale deed entails lot of ‘expenditure’ and will surely enrich the coffers of the ruling party though there will also be a nominal increase to the government’s kitty also’’, said an entrepreneur on conditions of anonymity.

He said there are thousands of players who are running an enterprise only on paper and are sitting on a gold mine in the form of vast swathe of land awaiting to get the sale deed in their names. Once the sale deed is issued they will be free to sell the land to the real estate developers and reap a huge profit.

Another player in the manufacturing sector in the city said this is not for the first time that such a move has been announced only to be rolled back by the new government which invariably comes out with a new policy after the elections. Though Mr. Nirani has said that the balance sheet of two years will be verified, it is an open secret as to how such checks and balances are ‘overcome’, said the entrepreneur.

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