A Parliamentary panel has castigated the government for not establishing industries in almost half the SEZs set up since 2006 and giving the land to realtors, diverting fertile land of farmers.
Industry body NAREDCO admits that a lot is needed by the Finance Minister rather than just the tax exemption, which again was needed keeping in view the housing shortage which is one of the biggest challenge for the government of the day.
Private equity giant Blackstone will finance south-based Embassy Property Development’s purchase of 22% stake in Manyata Tech Park, the country’s largest operational tech SEZ.
Naturally, the IT industry is not comfortable with seeing the STPI scheme go. It was slated for expiry in 2009, but the industry managed to wangle two extensions for it. The Government has provided an alternative in the form of Special Economic Zones.
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No specific instance of terror funds into realty sector: Govt
Reality of slum free realty-III
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