Land Bank Current Affairs - 2020

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Punjab creates land banks to boost industrial production

The Punjab cabinet on December 2, 2019, approved the amendment of Punjab Village Common Land (Regulation) rules, 1964. It aims at creating land banks in rural areas to boost industrial development in the state.

Highlights of the amendment

The amendment has included Rule 12-B that provides special provision to transfer shamlat land or common land to the development of industrial projects. According to GoI, Shamlat land is the land that does not come under cultivation and habitation. It is the consolidated land holdings that are held by the state governments for common use.

Under the amendment, the Gram Panchayat can transfer the shamlat land to the industries with prior approval from the state government. Land Banks are to be set up under Gram Panchayat to implement this amendment.

In order to achieve this, as an initial step, 1,000 acres of Panchayat land have been identified and integrated across five different villages. It will be used to develop a Global Manufacturing and Knowledge Park at Rajpura in Patiala District. The park is a part of the Amristar-Kolkata Industrial Corridor project.

The rule allows the transfer of land to industry department or state-owned Punjab Small Industries and Export Corporation (PSIEC).

Significance

The amendment will help in fastening the development of core and infrastructure projects. It will also bring in long-term industrial benefits. Along with land banks, amendments were also made to factories act, industrial disputes act and contract labor act. These amendments aim at promoting ease of doing business.

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Odisha Government creating land bank for industrial allocation

The Odisha Government is creating 1.2 lakh acre land bank across state for allocation to industrial sector in order to avoid repeat of Posco fiasco.

The purpose of the land bank is to cut red tape and avoid local issues in the land acquisition process. Under it, state government is acquiring government land for industrial use.

Key Facts

The land bank is based on plug-and-play kind of model wherein facilities related to water, power, roads and all clearances are in place. The companies need to only make payment of base premium upfront for land and annual rent for rest of the 90 years lease period.

State government has created huge land bank and has identified areas across state to bring under one umbrella for industrial sector. Its land bank already has reached 57,655 acres. With creation of land bank, state industry department is looking for investment in various sectors including steel, aluminium, agro and food processing units, apparel, IT and plastic units to further create employment potential in the state.

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