Maharashtra Government gives nod to IT & ITES policy 2015

Maharashtra Government has given nod to new Information Technology (IT) and Information Technology Enabled Services (ITES) policy.
Decision in this regard was taken by State Cabinet meeting chaired by Chief Minister Devendra Fadnavis in Mumbai.
Key highlights of Maharashtra IT & ITES policy 2015

• Aims at making state an IT, animation and gaming industry hub by attracting 50,000 crore rupees of investment and creating 1 million jobs in nest five years i.e. by 2020.
• Promotes a walk-to-work concept by proposing the construction of integrated IT townships along with residential apartments and social infrastructure such as schools, hospitals, multiplexes, malls and parks etc.
• Offers 200% additional floor space index (FSI) over the base FSI for IT parks. This decision will help to reduce rents of commercial space in the IT parks.
• Simplification in rules for payment of premium for getting additional FSI. In this case additional FSI is consumed in Mumbai Metropolitian Region (MMR) and Pune, the premium will be calculated at a flat 30% of ready reckoner rates. While in the rest of the state it will be charged at 10% of the ready reckoner rate.
• Offers IT industry exemption from payment of stamp duty and electricity duty.  It will offer electricity to the IT sector at the industrial tariff, which is lower than what the commercial sector pays.
• Directs municipal corporations to charge property tax at the residential rate and not at commercial rates. Exempts IT industry from value added tax (VAT) and local taxes such as entry tax and octroi.

Current status of IT industry in Maharashtra
Presently, Maharashtra ranks second in the country for the exports of IT & ITES after Karnataka. Last two IT policies of state in 2003 and 2009 had played important role to attract investment of 3.24 trillion rupees and had created 465 private and 37 public IT parks along with 748,000 direct jobs.

Month: Current Affairs - June, 2015