The proposed Tamil Nadu Investment Promotion Programme would encourage investment flow of around Rs 770 crore in small and medium infrastructure projects over the next three years.
The state Finance Minister O Panneerselvam informed this in the State Assembly recently. The state government proposes to establish the programme with assistance from the Japan International Cooperation Agency, he said.
The programme would enable policy changes to ease the bottlenecks faced by investors and correct infrastructural inadequacies, Panneerselvam said while presenting the state budget for 2013-14.
This is part of a programme to boost industrial investment. The minister said the government will also come out with a special support package to stimulate the micro, small and medium enterprises sector.
In order to attract more industries, the state government plans to create a 25,000-acre land bank for industrial use through the State Industries Promotion Corporation of Tamil Nadu.
Panneerselvam said industrial growth will be broad based with a special incentive package for attracting investments in South Tamil Nadu.