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Industry skipping Rajasthan, few takers for RIICO’s pricey land

JAIPUR: Land allotments by way of RIICO to business continues to say no, precipitating a protracted slowdown in new business investments that is going from dangerous to worse over the last three years. The situation up to now three months isn't any other at the same time as a brand new executive within the state has come to power, rushing hopes of new jobs advent.

In the 11 months of the present monetary year through February, RIICO’s land allotment got here down to 106 acres from a up to date high of 2,276 acre in 2016-17 and 152 acre in 2017-18.

Worse, the state public sector application has now not been in a position to acquire any land all through the present year in opposition to a target of 900 acre. Similarly, it has also overlooked goals for growing land in its possession. It had planned to increase business areas of 2373 acre within the current year however until February, it has developed best 1153 acre.

TOI tried to achieve best RIICO officers to grasp the explanations at the back of the state PSU’s failure to meet its own goals for successive years however could now not get a reaction. However, the business community within the state mentioned that investors are not very keen to come back to Rajasthan as a result of high land costs and bureaucratic hurdles.

“First, the land rates in neighbouring states Gujarat and Madhya Pradesh are not up to in Rajasthan. Even as the desolate tract state has massive parcels of infertile or semi fertile land, the federal government has raised their costs so high that the investors to find no business case to buy land and set up business right here. Secondly, the forms and the system is a problem that only a few investors wish to navigate,” mentioned an industrialist who prefer anonymity.

After the Congress executive took over in December closing year, the thrust has been on framing the commercial coverage. RIICO had despatched its officers to more than a few states to check business insurance policies and practices in order that the best of the options may also be included.

But another industrialist mentioned that the high costs of land is such an evident issue impeding investment that it does now not need deliberations lasting for months. “The sooner they take a call, the better would be the situation,” he mentioned.

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