Deferred Payment Scheme for industrial land a gamechanger

The Muthoot exit fiasco notwithstanding, the state government is going steadfast in its resolve to showcase the state as an investment-friendly destination.

Published: 08th September 2019 05:14 AM  |   Last Updated: 08th September 2019 05:14 AM   |  A+A-

By Express News Service

THIRUVANANTHAPURAM: The Muthoot exit fiasco notwithstanding, the state government is going steadfast in its resolve to showcase the state as an investment-friendly destination. The government believes an innovative ‘Deferred Payment Scheme’ for industrial land, to be rolled out soon, will prove a game-changer on the state’s industrial landscape.

“Under this, the entrepreneur will be able to get land earmarked for industrial use at 50 per cent of the cost. The remaining 50 per cent can be paid in instalments over a five-year period without interest. The interest will be borne by the state government,” K Ellangovan, Industries Secretary, told ‘Express’

According to Ellangovan, land cost is widely seen as a major impediment to setting up business ventures in the state. It is precisely this aspect which the state aims to address through the scheme in which the Kerala State Industrial Development Corporation (KSIDC) which provides the land will be reimbursed by the state government.

“We are planning to unveil the scheme over the next six months,” he said.

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