New IT policy allows night shift for women; promises 24x7 electricity
Chandrababu Naidu (Photo: DC/File)
Hyderabad: Tech-savvy Chief Minister N. Chandrababu Naidu has on Friday unveiled a new Information Technology policy 2014-2020 to make Andhra Pradesh a ‘Silicon Corridor’ on a par with the one in the US. The IT policy will provide a slew of incentives and land to investors and aims at attracting Rs 42,000 crore investments apart from creating five lakh jobs.
IT minister Dr Palle Raghunatha Reddy said the IT industry in the state will have no power cuts. It will be exempted from all Labour Laws and Shops and Establishments Act allowing for 24x7 operations throughout the year and also has night shift for women to suit the requirements of overseas offices.
A highly-empowered “single window clearance unit” will be set up for granting approvals. The centralised help desk, which will use the e-biz portal launched by the Union government, will reduce time to set up business and cut costs.
“If you don’t get an approval in four weeks, it shall be deemed as granted and company can begin its work,” the minister said.
Salient features of the IT policy include
Land Allotment: A rebate on the cost of land will be provided at Rs 60,000 per employee to the mega IT projects and Rs 40,000 per employee for other IT projects.
Mega projects: Projects that can create an employment of 5,000 or more in five years a rental subsidy at Rs 10 per sqft per month will be provided for three years.
Common incentives: Power subsidy of 25 per cent on power bills consumed by MSMEs
Maximum of Rs 30 lakh in three years and 50 per cent by SC, ST and women entrepreneurs.
Incentives for MSME units:
50% subsidy on lease rentals for three years.
50% reimbursement of exhibition stall rental, recruitment/training assistance at Rs 20,000 per IT professional employed within two years.
Additional incentives for SC, ST and women entrepreneurs:
15% reservation on built up space, 25% investment subsidy on fixed capital with a maximum limit of Rs 25 lakh, interest subsidy of 8.5 per cent for SC/ST entrepreneurs and 5 per cent for women.
Budgetary allocation: The state government envisages that a requirement of '500 crore per annum is essential to take up development of the industry.
Infrastructure: Development of mega IT hub at Visakhapatnam, IT hubs at Vijayawada, Kakinada, Tirupati and Anantapur with walk-to work, cycle-to-work concepts.
PPP model: IT parks and IT zones will be developed through Public private Partnership (PPP) policy.
ITIRs: After ITIRs in Visakhapatnam and Tirupati, the Tirupati-Anantapur corridor will be proposed.
( Source : dc )
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