Cabinet nod to amendment in UP cooperative Act

The Centre had directed all states to amend their cooperative acts in accordance with the 97th constitutional amendment.

Written by Express News Service | Lucknow | Published:March 15, 2013 2:48 am

The state cabinet on Thursday decided to make an amendment in the UP Cooperative Societies Act 1965 to bring uniformity in the state cooperative laws with laws of the other states as directed by the Centre.

The Centre had directed all states to amend their cooperative acts in accordance with the 97th constitutional amendment. After the amendment,the tenure of members of the management committees of cooperative societies will be fixed at 5 years. The state government will have to form a separate authority for conducting the elections of the cooperative societies. Also,cooperative societies will come in the ambit of Right to Information Act 2005.

Sources in Cooperative Department said that the government will soon table a Bill in the Legislative Assembly to seek approval for making amendment in the Act.

Sources said that the cabinet also approved guidelines and parameters for selection of a developer for the IT City project proposed to be built on public-private partnership (PPP) model at 100-acre land at Chak Ganjarian farms in Lucknow. The guidelines have been drafted by the project consultant Ernst and Young. The government has decided to give 5 per cent interest subsidy with a maximum limit of Rs 25 crore to the developer.

Real estate companies would be kept away from bidding and only IT sector companies would be allowed to bid for the project. The selected company will have to make an investment of at least Rs 400 crore and give jobs to at least 5,000 people in the first four years.

“The developer will have to make an investment of at least 15,000 crore by completion of the project and at least 25,000 people must be given jobs,” said an official.

The official said that the bid document will now be prepared and bids will be invited soon for selection of a developer. Sources said that the government has also decided to give entertainment tax exemption for two years to the private companies interested to start helium balloon ride facility at tourist places in the state.

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