• News by Month

  Select Month February 2012 January 2012 December 2011 November 2011 October 2011 September 2011 August 2011 July 2011 June 2011 May 2011 April 2011 March 2011 February 2011 January 2011 December 2010 November 2010 October 2010 September 2010 August 2010 July 2010 May 2010 April 2010 March 2010 February 2010 January 2010 December 2009 November 2009 October 2009 September 2009 August 2009 July 2009 June 2009 May 2009 April 2009 March 2009 February 2009 January 2009 December 2008 November 2008 October 2008 September 2008 August 2008 July 2008 June 2008 May 2008 April 2008 March 2008 February 2008 January 2008 December 2007 November 2007 October 2007 September 2007 August 2007 July 2007 June 2007 May 2007 April 2007 March 2007 February 2007 January 2007 December 2006 November 2006 October 2006 September 2006

• News by City

  • Bangalore
  • Chennai
  • Delhi
  • Faridabad
  • Gurgaon
  • Hyderabad
  • Kolkata
  • Mumbai
  • Noida
  • Pune

• News by Category

  • NRI
  • FDI
  • Home Loans
  • Real Estate India
  • Banking and Finance
  • Real Estate Developers

« Banks observe strike in Punjab | Home | Carlson not to renew contract with Sarovar Hotels »

Kerala CM postpones decision on SEZs

Thursday as Chief Minister V.S. Achuthanandan postponed decision on the proposed 21 special economic zone (SEZ) proposals. The chief minister’s statement came barely a week after the Communist Party of India-Marxist (CPI-M), to which he belongs, urged the state government to speed up decisions on SEZs. The Communist Party of India (CPI), the Revolutionary Socialist Party and the Janata Dal, all are part of the ruling LDF, are not very keen to setting up SEZs in the state. Hence, the Kerala Industries Department’s efforts to attract as much as Rs.250 billion ($5.8 billion) fresh investment in different sectors appear to have hit a roadblock. Kerala today has one SEZ in Kochi and 13 more projects have got the final clearance. Besides, eight more SEZs are awaiting the central government’s nod.

‘A decision can be taken only after discussing the issue with the party leadership in Delhi. The Left has its own reservations on SEZs,’ Achuthanandan told reporters here after the weekly cabinet meeting. When reporters pointed out his party’s stand, Achuthanandan said: ‘The state committee of the party can take any decision. But when the Left Democratic Front (LDF) makes a decision, it has to be discussed with all allies.’ ‘See, those who get approvals to build SEZs get a lot of benefits. They get discount on all materials in construction. Once completed, they get so much tax benefits. We have to make sure that this benefit is passed on to the state too,’ the chief minister said.

The CPI-M-backed Democratic Youth Federation of India secretary T.V. Rajesh said: ‘Just to get claps we are not going to oppose SEZs. We don’t have any blind stand towards them. SEZs will certainly create more jobs,’ Rajesh said.

News Published Under:   Real Estate India | No Comments »

Comments

Name (required)   

Mail (required)      

URL