Even as the Uttar Pradesh government is in the midst of dealing with the Covid-19 crisis, chief minister Yogi Adityanath has reportedly given his consent to a proposal which would provision for according industry status to warehousing and logistics sector. The initiative is expected to significantly bring down the cost of setting up logistics and warehousing units in the state.
“Chief Minister had given consent to this proposal at a recent meeting as this sector had immense potential to create enormous job opportunities required as migrant labourers are returning from other states due to COVID-19 lockdown,” state’s Industrial Development Minister Satish Mahana was quoted in a recent news agency report.
The move by the state is aimed at drawing more investments as it plans to set up multi-modal transport hubs and logistics hubs to further its economic growth story. With the industry status, the change of land use charges from agriculture to commercial will be applicable in the range of 35 percent of the circle rate for warehouse developers as against a staggering rate of 150 percent for usual commercial activities.
(Representational image used)