Hyderabad, November 11: The Andhra Pradesh government has extended a major dole to the Kakinada Special Economic Zone that has proven a non-starter for over five years now.
The state government has issued an order exempting the Kakinada SEZ from payment of fee for converting agricultural land for non-agricultural purposes, which according to official sources, could result in the exchequer forgoing a revenue of Rs 125 crore, including penalty.
The order by revenue secretary Rajeshwar Tiwari grants exemption for the SEZ, which covers an area of 8,321.67 acres.
As per the Andhra Pradesh Agricultural Land (Conversion for Non-Agricultural Purposes) Act, 2006, “every owner or occupier of agricultural land shall have to pay a conversion fee for (using farm land for) non-agricultural purposes, at the rate of 10 per cent of the basic value of the land…
–PTI