CHENNAI (PTI): Southern India Chamber of Commerce and Industry (SICCI) and Confederation of Indian Industries today welcomed the Tamil Nadu budget for 2011-12 terming it as "balanced" and "growth oriented"."SICCI welcomes the importance given to agriculture which is one of the largest contributors to Tamil Nadu through increasing crop loans, improving food storage facilities and increasing subsidies for seeds and fertilisers," its President A Vellayan said.He said the chamber welcomed the intention of the government to usher in the second green revolution to improve agricultural production.The governemnt's move to encourage private companies to set up agro-processing industries with farmers' participation in a cluster-approach would aid the economic development of the region, he said.He said the constitution of Tamil Nadu infrastructure Development Board under the Chairmanship of Chief Minister was sure to address the critical bottlenecks in infrastructure development and sustain higher growth in the services sector so as to achieve in 10 per cent growth.CII Tamil Nadu circle also welcomed the budget saying it includes several developmental and welfare schemes worth Rs 190 crore to put the state on the path of development and prosperity."This budget is an inclusive, sustainable and growth oriented one", CII State Council Chairman N K Ranganath said.While complimenting the government for having addressed the issue of clean governance through e-governance initiatives, he appreciated its proposal for a new industrial policy.He sought speedy completion of the linking of Cauvery, Vaigai and Gundar rivers.He hailed the steps for augmenting the power situation by adding new capacity, strengthening and upgrading the transmission and distribution systems.Tamil Nadu plans new industrial, land takeover policiesCHENNAI (IANS): Tamil Nadu Thursday decided to come out with new industrial and land acquisition policies to attract investment.The state, which is ranked seventh among Indian states in attracting investment in manufacturing sector, also is looking at making sector-specific policies.Presenting the AIADMK government's first budget, Finance Minister O. Pannerselvam said: "As per the CMIE (Centre for Monitoring Indian Economy) report of 2010-11, Tamil Nadu has slipped to the seventh position in attracting investments in the manufacturing sector.""This government will come out with a New Industrial Policy 2011, besides formulating sector specific policies for automobiles and auto components, bio-technology and pharma," he added.It was in 2007 the state had come out with a new industrial policy.According to him the government will also constitute a Tamil Nadu Infrastructure Development Board under the chairmanship of the chief minister.Pannerselvam said the government will come out with a "Vision 2025" document addressing the critical gaps in the policy to drive economic growth.Referring to the problems in acquisition of land for industrial use, Pannerselvam said the state would come out with a new land acquisition policy by adopting innovative methods like land pooling to create adequate land banks for building industrial parks and infrastructure.He said the state was in discussion with industrial houses, which may attract 22 major projects having an investment potential of nearly Rs.21,500 crore.He said the government planned to establish exclusive industrial estates to house investors from Korea, Japan and Thailand.Pannerselvam said the state-owned Tamil Nadu Cements Corporation's capacity will be increased to 1.9 million tonne per annum (tpa) from 700,000 tpa at an outlay of Rs.515 crore.
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