Mumbai, Aug 11 (PTI) The Maharashtra Cabinet on Tuesday approved the revision of the interest rate payable in cases of delayed disbursal of land acquisition compensation, and also gave its nod for stamp duty concessions for renewable energy projects.
The Cabinet approved amendments to Section 72 of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, to revise the interest rate payable when compensation is delayed, an official statement said.
Under the revised provision, the interest rate will be one percentage point higher than the rate at which the Reserve Bank of India (RBI) lends to commercial banks.
The government said the change was necessary as there was a gap between the existing interest rate on delayed compensation and prevailing bank lending rates.
In a decision aimed at promoting renewable energy projects, the Cabinet approved complete waiver of stamp duty on internal land transfer transactions between companies forming a group or special purpose vehicles (SPVs) set up for such projects.
The government stated that the parent company would continue to pay the stamp duty when it initially purchases the land, but the stamp duty payable on its subsequent transfer to a group company or SPV will be waived.
The decision aims to reduce additional financial burden on companies, helping renewable energy projects commence at the earliest.
The provision will be incorporated into the state’s renewable energy and energy storage policy (2025-26 to 2035-36).
The Cabinet also approved a 25 per cent concession in land transfer fees for land purchased for renewable energy projects.
Apart from this, the Cabinet approved the creation of four posts in the state agriculture department in accordance with the revised organisational structure of its field offices.
The posts include director of agriculture (agricultural engineering, asset management and AgriStack), joint director of agriculture (statistics), joint director of agriculture (information and technology) and additional director, AgriStack (Revenue). Two of the posts of Joint Director will be filled on deputation.
The Cabinet also okayed a proposal to enable the Shri Nilkantheshwar Shetkari Cooperative Sugar Factory at Killari in Ausa tehsil of Latur district to obtain a loan of Rs 18.09 crore from the National Cooperative Development Corporation (NCDC) for capital expenditure and working capital.
The government has also approved changes to the rules and guidelines governing the establishment of private skill universities on a self-financed basis.
It has stated that a single law — the Maharashtra Private Skill Universities (Establishment and Regulation) Act 2024 — will apply to such universities, instead of separate legislation for each university.
The government resolution dated February 5, 2021 governing their functioning and regulation will be withdrawn once new guidelines come into force, it said, adding that institutions seeking to establish a private skill university will have to submit a detailed project report along with a Rs 1 crore application fee.
The land requirement for such universities will be 25 acres in rural areas, 15 acres at tehsil or district headquarters and 10 acres in urban areas, excluding Mumbai city, Mumbai suburban and Thane.
In another decision, the Cabinet approved allowing senior colleges to introduce social work as an independent faculty, along with new courses and additional divisions. Social work colleges will also be permitted to start new courses and additional divisions on a permanent unaided basis.
Maharashtra currently has 69 recognised social work colleges, of which one is closed, and 18 are unaided.
The Cabinet further approved the creation of judicial officer and staff posts and expenditure provisions for establishing a district and additional sessions court and a government pleader’s office at Hadgaon in Nanded district. PTI MR KRK ARU
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