The cabinet approved the proposal today as we want the company to start its operations in the state," state education minister Partha Chatterjee said after the cabinet meeting at Nabanna. Mamata had announced last week that Infosys had agreed to invest Rs 100 crore in Bengal despite the denial of SEZ status. "An SEZ status would have offered income-tax and other exemptions to the company. By making the plot a freehold, the government is trying to compensate Infosys for the loss in income because of non-availability of the SEZ status. The Bengal government had in November 2011 leased the 50-acre plot to the company for 99 years at Rs 75 crore.

Source: The Telegraph September 08, 2017 20:37 UTC