Key Points
Hyderabad:Chief Minister Chandrababu Naidu has unveiled six policies to accelerate industrial growth in Andhra Pradesh, in a bid to fulfil his poll promises of creating wealth to uplift the financially weaker sections and provide 20 lakh jobs to skilled youth...
The policies involve industrial development, integrated clean energy, MSME (micro, small and medium enterprises) and entrepreneur development, food processing, electronics manufacturing, and private industrial parks..
Through these, the Naidu government envisages about 20 lakh jobs while aiming to attract over Rs 40-lakh crore investment in five years from 2024 to 2029...
The AP Industrial Development Policy (AP IDP 4.0)the anchor policy for all large and mega investmentsalone targets an investment figure of Rs 30 lakh crore in the manufacturing sector, while aiming to operationalise investments of Rs five lakh crore during the policy period, according to an industrial department note...
Incentives for renewable energy manufacturing projects include capital subsidy of 25 percent on FCI of plant, captive generating plant and captive mines, 100 percent reimbursement of net SGST on sale of products, 25 percent exemption of industrial water charges for 10 years, and power subsidy of Rs one/unit for 10 years, K. Vijayanand, special chief secretary of energy, told ThePrint...
