Close X
Saturday, January 11, 2025
ADVT 
India

UP Clears Rs 2,000-Crore Ramdev Group Project With Several Sops

IANS, 09 Sep, 2016 11:57 AM
    Baba Ramdev's Patanjali Ayurveda Limited (PAL) is all set to launch an ambitious Rs 2,000-plus crore ($300 million) project in Uttar Pradesh.
     
    Officials say the proposal has found "favourable response" from the SP government and has, in fact, received the nod of Chief Minister Akhilesh Yadav. It will now be taken to the state cabinet next week for approval. 
     
    Chief Secretary Deepak Singhal told IANS that the venture was first of its kind aiming at integrating farmers to the markets and the wider world. "Chief Minister Akhilesh Yadav has been telling us to ensure that all developmental projects and investments have something substantial to offer and the Patanjali project is one such," he added.
     
    Sources said two stretches of land, totalling 400 acres, have been identified in sectors 22E and 24A of Greater Noida on the Yamuna Expressway for setting up of a Super Mega Food and Herbal Park, and at the villages of Safa and Moza in Jhansi.
     
    An official said the group's proposal came just a fortnight back but was "attended to at a lightening speed", and the Steering Committee of officials headed by Singhal -- which takes a call on proposals above Rs 200 crore -- stamped its approval on the project, after which the matter was taken to the Chief Minister for his consent.
     
    The high point of the project is that for the first time something so big is being linked to the impoverished Bundelkhand which will see a chunk of Rs 500 crore going to it. All major purchases would be done from Bundelkhand. 
     
    A senior official of the Rs. 5,000 crore PAL group told IANS that they were "pleasantly surprised at the alacrity at which the project was considered" and taken ahead which would take the state government to another level.
     
    Officials said that in line with existing state policies aimed at attracting investments, the project would receive sops like 150 per cent VAT concession, 50 per cent EPF contribution for three years (after three years of operation), five per cent infrastructure interest subsidy and five per cent capital investment subsidy.
     
    "The state government has also committed 100 per cent electricity duty exemption and 24x7 power supply to the units. Other than this, the existing 25 per cent rebate on land rates and a 100 per cent stamp duty waiver are also likely to be given to the Patanjali Group. The Mandi (wholesale market) fees have also been exempted for five years on purchase of raw material," an official told IANS.
     
     
     
    Patanjali officials said the integrated unit would take two years to complete and will help build capacity for the growing demand for its agro, agriculture, food, herbal, cattle feed and dairy products. The company says it will double its turnover to Rs 10,000 crore this fiscal (till March 31, 2017). 
     
    Sources also said that the Chief Minister had given a carte blanche to his team of officials to speed up the process of getting companies to invest in the state.
     
    "Right from the start the Chief Minister has made his intentions clear on investment and infrastructure improvement," an official said, adding that "though, initially, industry showed reluctance largely due to its experience with the previous government, they are now literally queuing up to invest in the state". 
     
    Officials said the state had received investments of Rs 5,200 crore in the last one month.
     
    With the state going to polls early 2017, such developments, political observers say, may well bring in goodwill and possibly votes for the Akhilesh Yadav government, which is seeking a return to power.

    MORE India ARTICLES

    It's Advantage Akalis In Punjab, Courtesy AAP, Congress Self-Goals

    It's Advantage Akalis In Punjab, Courtesy AAP, Congress Self-Goals
    Political self-goals by the Aam Aadmi Party (AAP) and the Congress have put Punjab's ruling Shiromani Akali Dal in an advantageous position just months ahead of assembly elections in the state.

    It's Advantage Akalis In Punjab, Courtesy AAP, Congress Self-Goals

    Punjab Police Grills Delhi Aap Legislator In Quran Desecration Case

    Punjab Police Grills Delhi Aap Legislator In Quran Desecration Case
    The Punjab Police questioned Aam Aadmi Party (AAP) legislator from Delhi Naresh Yadav for over five hours on Saturday in connection with the Quran desecration incident of last month.

    Punjab Police Grills Delhi Aap Legislator In Quran Desecration Case

    After Punjab, Now 'Cow Cess' Proposed In Haryana

    After Punjab, Now 'Cow Cess' Proposed In Haryana
    After Punjab, a proposal has been made to the BJP government in Haryana to levy 'cow cess' to generate funds for the welfare of cows in the state.

    After Punjab, Now 'Cow Cess' Proposed In Haryana

    AAP Rejects Molestation Allegation Against Its Lawmaker

    AAP Rejects Molestation Allegation Against Its Lawmaker
    AAP today rubbished the charges of molestation against its legislator Prakash Jarwal and said it was "impractical" to believe that the alleged incident occurred in presence of 300 people, including mediapersons.

    AAP Rejects Molestation Allegation Against Its Lawmaker

    Geeta, Indian Who Was Stranded in Pak, Remembers 'Edhi Sahab'

    Geeta, Indian Who Was Stranded in Pak, Remembers 'Edhi Sahab'
    Geeta, the deaf and mute woman, who returned to India last October after being stranded in Pakistan for 13 years, today expressed deep sorrow over the demise of legendary Pakistani philanthropist Abdul Sattar Edhi.

    Geeta, Indian Who Was Stranded in Pak, Remembers 'Edhi Sahab'

    28-Year-Old Man Dies As Kite String Entangles Around His Neck In Ghaziabad

    28-Year-Old Man Dies As Kite String Entangles Around His Neck In Ghaziabad
    A 28-year-old man died in Ghaziabad on Friday after string used for flying kite (manjha) got entangled around in his neck, police said.

    28-Year-Old Man Dies As Kite String Entangles Around His Neck In Ghaziabad