Staff Reporter

Single window system to speed up land acquisition

Kannur airport to be set up in four years

KOZHIKODE: Minister for Finance T.M. Thomas Isaac has said the State government will constitute a committee to expedite the implementation of multi-crore infrastructure projects, including the Rs.1,500-crore Malabar package, proposed in the State budget.

He was speaking at a face-to-face programme on the State budget 2009-2010 organised by the Keluettan Padana Kendram here on Saturday.

Dr. Isaac said the existing system of acquiring land would be replaced by a single window system. The Chief Minister would head the committee on single window system. Usually the process of clearing a proposal took two years, he said.

Dr. Isaac said the State government would take steps to reduce the stamp duty on immovable property after the fixation of fair value of land in the State. The notification on the fair value of land had been revised, he said.

A decision on the stamp duty would be taken soon after the Lok Sabha election, he said to a query put forth by Kerala Builders Forum Calicut chapter secretary Nityanand Kamath.

Mr. Kamath wanted to know whether the government had immediate plans to reduce the stamp duty, although the State budget had mentioned about cutting the rates.

Port development

He said that Kannur airport would be a reality in another four years. Likewise, Azhikkal and Beypore ports would be developed. The State would be a key competitor along with other industrialised States in another couple of years, he said.

The budget was not just a financial statement of revenue and expenditure, but making an intervention into the economic structure. It was a tool to control and regulate the economy, Dr. Isaac said.

He said money would be mobilised from the public. The treasury was the safest bet for people to invest.