PM TO INAUGURATE UP INVESTORS’ SUMMIT

LUCKNOW: Prime Minister Narendra Modi will inaugurate a two day-long Uttar Pradesh Investors’ Summit on February 21 while President Ramnath Kovind will be the chief guest at its concluding function. Briefing newspersons after a cabinet meeting presided over by the Chief Minister Yogi Adityanath, state government spokesman Siddharth Nath Singh said that a presentation of the upcoming summit was made during the meeting.

LUCKNOW: Uttar Pradesh cabinet on Tuesday approved the draft UP Revenue Code Bill, 2018, that provides for amendment to revenue code to ease its existing provisions for the benefit of investors and allow leasing of agriculture land to attract investment in farm sector through contract farming.

Chief minister Yogi Adityanath presided over the meeting of state cabinet that also viewed a presentation about preparations being made for the Uttar Pradesh Investors Summit being organised here on February 21-22.

Briefing media persons, government spokesman and minister for medical and health Sidharth Nath Singh said the government proposed to get the bill passed in the forthcoming budget session of state legislature commencing on February 8.

Singh said Section 77 of revenue law would be amended to allow transfer of public land, falling between industrial land for setting up of industry. An amendment to Section 80 had been proposed to allow tentative permission for setting up of industry to enable investors get funds from the bank, he said.

“As the state’s land ceiling laws do not allow anyone to buy more than 12.5 acre agriculture, another amendment has been proposed to allow the industry to have large plots of land for setting up industry,” he said.

Amendment to provisions for agriculture leasing will allow investment in agriculture sector through contract farming. It will also allow setting up of solar farms in Bundelkhand region.

Chairman of UP board of revenue Pravir Kumar said leasing of agricultural land had been allowed for agriculture purpose only.

The health minister said about 5,000 delegates had registered for the summit which would be inaugurated by Prime Minister Narendra Modi on February 21.

“The PM will also interact with investors. President Ram Nath Kovind will attend the closing ceremony,” he said.

Singh said union minister for finance Arun Jaitley would be the main speaker at the concluding ceremony and added that chief minister Yogi Adityanath would host a dinner for industrialists on on February 20.

Singh said besides foreign dignitaries, industrialists who would attend the summit include Reliance Industries chairman Mukesh Ambani, Adani group chairman Gautam Adani, Aditya Birla Group chairman Kumar Mangalam Birla, GMR group chairman GM Rao and Tata Group chairman N Chandrashekharan.

He said Japan, Czech Republic, Finland, Mauritius and the Netherlands were partner countries of the summit.