Hyderabad: The Telangana government is all set to relax norms for setting up of “mega industries” in the state.
Any manufacturing facility being set up with an investment of Rs 200 crore and provide employment to at least 1,000 people will be considered a “mega industry”, against the existing norm of Rs 250-crore investment and employment for 1,500.
Mega industries are entitled to 100 per cent stamp duty relaxation, 50 per cent reimbursement on expenditure incurred towards creating infrastructure facilities and a host of other incentives like lower value-added tax, central sales tax, electricity duty etc. Firms can claim relaxation ranging from 20 per cent to 50 per cent on VAT, CST etc.
Read: K Chandrasekhar Rao will consult industry to check corruption
The new rules are being framed to attract mega industries to Telangana. Telangana Chief Minister K. Chandrasekhar Rao is likely to discuss relaxing norms for mega industries at a meeting on July 22 with top industry bodies and industrialists in the city.
The meeting is aimed at devising a “zero corruption industrial policy” for Telangana wherein all the approvals to set up industries will be cleared in two weeks without scope for graft.
