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New scheme to attract FDI

PUDUCHERRY: The government has launched a new scheme to attract and channel foreign direct investment from Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) of Puducherry.

A website would be created to provide a platform for the NRI’s and the PIO’s to interact with the officials for motivating them to attract investments in the industrial and infrastructure development projects, information technology and tourism, Chief Minister N. Rangasamy said in his budget speech.

On the government plans to develop Information Technology sector, Mr. Rangasamy said land would be acquired on the East Coast Road in the next financial year for setting up IT Parks under the public-private partnership mode.

The government would approach financial institutions for loans to manage the expenditure for acquiring the land, Mr. Rangasamy said.

On the tourism front, the government proposed to establish a water park at Murungapakkam with financial assistance from the Centre. The government also planned to enhance infrastructure at the Oussudu Lake and also develop the Bahour and Kirumambakkam lake area into a tourism spot, he said.

Mr. Rangasamy stressed the need for public investment to meet the infrastructure requirement in those sub-sectors and areas where private participation was unlikely.

For constructing a bypass road from Arumparthapuram to 100 feet road, land acquisition was in progress, he said, adding that steps had been taken to create six-lane road connecting the Special Economic Zone at Sederapet and the harbour.

On the steps taken to strengthen the Panchayati Raj system in the Union Territory, he said e-governance would be implemented in the local bodies to bring about transparency in their functioning.

The government proposed to prepare a project report for the introduction of mass rapid transit system and traffic management in the Union Territory.

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