50% FSI boost for industries in state

Mumbai: With land acquisition becoming increasingly difficult, the state government has decided to grant an additional floor space index (FSI) of 0.5 to industries. Currently, industries are allowed an FSI of 1. 

    "In our attempt to attract more industries, especially the manufacturing sector, we are trying to do things that have not been done earlier. Increasing the FSI is one of them. This will also help the existing industries to expand without buying more land," said principal secretary (urban development department) Manu Kumar Srivastava, who is also holding the charge of industries. 
    Recently, the state government announced its industrial policy and said it wants to attract investments to the tune of Rs 5 lakh crore and create two million jobs over the next five years. One of the main objectives of the policy is to create a walk-to-work environment where residences will be in close proximity to industries so that people do not have to travel long distances. 
    "We are looking to redefine the concept of single-window clearance and are studying the various permissions required to set up an industry. We are looking for duplications, if any. We will discuss if some of the permissions can be replaced or amalgamated or if a single permission will be sufficient for a project," Srivastava said. 
    The government is working with Ernst & Young on process simplification. The new policy will be implemented from the next financial year.