States get 4 months to bid for 1st 50 industrial parks

NEW DELHI: Govt on Saturday said that it has opened a four-month window for states to apply for setting up the first 50 industrial parks under the Rs 33,660 crore Bharat Audyogik Vikas Yojna (Bhavya) scheme.

Over six years, starting from the current fiscal, the scheme provides for the setting up of 100 plug-and-play industrial parks across the country, out of which 20 will be set up in the first round, followed by another 30. Commerce and industry minister Piyush Goyal said that the parks will be selected through a challenge-based competitive selection process, and incentives may be offered to those looking to set up the parks ahead of schedule.

Under the scheme, industrial parks ranging from 100 to 1,000 acres will be taken up for development, the minister said, adding that the financial support of up to Rs 1 crore per acre will be provided for infrastructure development.

For hilly states, a park can also be approved on 25 acres of land, with some concessions likely for parks that come up in the erstwhile Naxal belts, Goyal said.