3 weeks ago

Maharashtra Cabinet Approves Land Compensation Revisions and Renewable Energy Concessions

Maharashtra Cabinet Approves Land Compensation Revisions and Renewable Energy Concessions
Maharashtra Cabinet approves revision of land compensation rules, concessions for renewable energy · theprint.in

The government leaders of a big state in India called Maharashtra held a meeting called a Cabinet meeting.

They made many new decisions to help people and companies.

One decision was about land — when the government buys land from people, it sometimes pays them late.

Now, if the payment is late, the government must pay extra interest, a bit more than the rate set by India's central bank.

Another decision was to help companies that build clean energy, like solar and wind power.

These companies will not have to pay a tax called stamp duty when they move land between their own companies.

This saves them money so they can start their projects sooner.

The leaders also changed rules for starting private skill universities, which teach job skills, and approved a large loan for a sugar factory.

They also let colleges start a new subject called social work and approved money for a new court.

All these decisions will affect schools, courts, farms, and energy projects across the state.

Key facts

Government
Maharashtra, India
Interest rate on delayed compensation
1 percentage point above RBI's lending rate to commercial banks
Stamp duty on internal renewable energy land transfers
Fully waived
Land transfer fee concession for renewable projects
25%
Renewable energy policy period
2025-26 to 2035-36
Sugar factory loan approved
Rs 18.09 crore from NCDC for cooperative factory at Killari, Latur
Private skill university application fee
Rs 1 crore
Recognised social work colleges in Maharashtra
69 (18 unaided, 1 closed)

Sources

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