The state government has decided to set up a land bank of 6,293 hectares for hassle-free land availability for new industries in the Jabalpur division.

“The concept to have land bank is to instantly provide land to investors on demand,” zonal industries office joint director (industries) RC Kuril said. “The land bank facilitates a large portion or entire land area to the big industry if there are no investments for micro, small and medium enterprises.”

The largest land bank is being created in Katni district, where the target is to acquire 4,351 hectares. So far, 525 hectares have already been acquired. The smallest land bank will be in Dindori district (83 hectares).

“Factors which affect the implementation of new industry projects in the state include the problem of land acquisition and the non-availability of developed land banks,” ASSOCHAM national executive member Prem Dubey told HT.

“In a developed land bank, there are all sorts of facilities, including proper water and electricity supply, plain land plots and other basic amenities,” he said.

ASSOCHAM’s August 2016 report stated that Madhya Pradesh’s industrial sector had recorded a compound annual growth rate of 7.9% during 2004-05 to 2014-15. The highest industrial annual growth rate in the state reached its peak level of 21.5% in 2008-09. Thereafter it declined to 1.3% in 2012-13 and rose to 4.6% in 2014-15, the report said.

Source: Hindustan Times