Odisha approves new SEZ policy

BHUBANESWAR: The Odisha government today approved a new Special Economic Zone ( SEZ) policy which allowed developers to sub-let land to other industries.

"Under the new SEZ policy, the developer can sublet leased land to other industries," said Chief Secretary G C Pati after the state cabinet meeting presided over by Chief Minister Naveen Patnaik approved a proposal in this regard.

Besides, the industries coming under SEZ will avail complete exemption on stamp duty, VAT and entry tax.

The sub-let land within the SEZ area should, however, be used within five years of being given to a specific company, Pati said.

"The Centre, which had formulated a new SEZ policy in 2007 following the approval of the union cabinet, had asked the state governments to frame their own SEZ policy. A new SEZ policy framed by Odisha government in 2003 was scrapped later."

"Hence, this(new) SEZ policy formulated by the state government will apply to the SEZs set up within the state. This SEZ policy shall come into force and shall be applicable to both the existing and proposed SEZs in the state prospectively," Pati said adding the state has plans to set up at least 14 SEZs in different sectors.

In another decision the state cabinet also approved a proposal to provide five acres of premium free government land at Brajaviharpur Mouza under Athgarh tehsil in Cuttack district for setting up of a regional centre of Maulana Azad National Urdu University, Hyderabad.

However, the University will have to pay the annual rent on the leased land, the chief secretary said.

It also approved amendments to the Odisha Subordinate Staff Selection District Cadre Rules. Under the newly amended rules, employees in category B and C having 4200 grades will be selected for promotion.