Maharashtra Cabinet approves new retail policy

20 Jan '16
2 min read

The Maharashtra Cabinet has approved a new policy for retail traders in the state.
 
The new policy is aimed at accelerating investments in the underdeveloped regions of the state and help the state continue to retain its leading position in retail trade in the country, media reports said.
 
As per the policy, retail traders would be exempt from provisions of stocking limits under the Essential commodities Act. They would also be exempted from Agriculture Produce Marketing Committee (APMC) regulations, so that farmers can sell their produce directly to retailers. Further, the retailers will not have to pay any cess to APMC.
 
Retail establishments can remain open on all 365 days of the year between 5 a.m. and 11 p.m. However, employees should be given compulsory weekly offs on a preferential basis. For logistics and supply purposes, enterprises can operate even between 11 p.m. and 5 a.m.
 
In order to encourage retail trade in the state, retail properties/stores will be allowed higher ground coverage, up to 70 per cent, subject to setback and fire safety regulations and floor space index (FSI) norms. In addition, the floor-to-floor height will be raised to 5.5 metres and additional parking space will be allowed without FSI implication.
 
There is also a provision in the policy which allows up to 50 per cent additional FSI for development of retail and shopping centre over the base FSI, subject to payment of full applicable premium according to the prevailing ready-reckoner rates.
 
The new policy would be applicable to new retail business and it will be valid for five years, said Maharashtra industries minister Subhash Desai who introduced the policy. “This would enhance viability and quality of development of retail centres,” he said. (RKS)
 

Fibre2Fashion News Desk – India

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