SEZs in AP and other states have diverted huge tracts of land for other purposes
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Hyderabad: The Comptroller and Auditor General of India has found that Special Economic Zones in Andhra Pradesh and other states have diverted huge tracts of land for other purposes and raised Rs 6,309.53 crore by mortgaging SEZ lands.
CAG, in its report on performance of SEZs revealed that there have been gross violations by SEZ developers in AP. The report was tabled in Parliament on Friday.
“In four states, AP, Karnataka, Maharashtra and West Bengal, around 11 developers raised Rs 6,309.53 crore of loans by mortgaging SEZ lands. Out of these, three developers used loans of Rs 2.211.48 crore for purposes other than development of SEZ.”
( Source : dc )
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