Kerala

Wage subsidy for new investors soon: CM

Chief Minister Pinarayi Vijayan at the inauguration of ASCEND 2020 in Kochi on Thursday.

Chief Minister Pinarayi Vijayan at the inauguration of ASCEND 2020 in Kochi on Thursday.   | Photo Credit: Thulasi Kakkat

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Investors will get relaxation in 15-acre ceiling on landholding

The State government is readying a scheme to extend wage subsidy to new investors for a five-year period from April on the basis of the number of people they give employment, Chief Minister Pinarayi Vijayan has said.

This is primarily aimed at providing employment to 36 lakh unemployed people in Kerala.

The government wanted to weed out unemployment in 10 years through skill development and other means, he said after inaugurating the two-day ASCEND 2020, a global investors’ meet, here on Thursday.

ESI and PF benefits

Without going into the details, he said the benefit would be available only to enterprises that provided ESI and PF benefits to workers.

Women employees would get at least ₹2,000 more than their men counterparts under the scheme. Mr. Vijayan said the government would soon allow women to work during night hours from 7 p.m. to 6 a.m. This is part of the efforts to further empower women. The employer would be responsible for their safety and transportation. This apart, local bodies would have to provide jobs to at least five people per 1,000 population.

Land-ceiling relaxation

The 15-acre ceiling on landholding will be relaxed for investments that are worth over ₹250 crore and provide employment to at least 1,000 people.

Similarly, the ceiling on financial aid from the Kerala State Industrial Development Corporation (KSIDC) would be raised from ₹35 crore to ₹100 crore. In certain cases, the KSIDC could provide higher amount, the Chief Minister said. A Chief Secretary-led committee has been constituted to enable a smooth, hassle-free and transparent path to invest in Kerala. There are district-level investment promotion facilitation cells too.

Emphasis on tourism

An e-platform-based single-window clearance system has been set up to catalyse investment. Renewed emphasis would be given to create more jobs in the tourism and health sectors. Nearly 1,500 acres of land had been identified in Palakkad as part of the Kochi-Coimbatore industrial corridor, he said.

The government wants to make Kerala among the five best investor-friendly States in India. Already, investors can begin operating within 30 days of submitting application under the deemed-licence system.

The government would adopt the method relied on by BPCL to redress labour grievances to avert strikes, Mr. Vijayan said.

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Printable version | Jan 23, 2020 10:05:05 AM | https://www.thehindu.com/news/national/kerala/wage-subsidy-for-new-investors-soon-cm/article30524947.ece

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