Power subsidy anywhere between of Re 1 and Rs 2 on each unit for three years
Andhra Pradesh CM N Chandrababu Naidu
Hyderabad: Power subsidy anywhere between of Re 1 and Rs 2 on each unit for three years, exemption from stamp and transfer duty, about 25 per cent VAT reimbursement for five years, single-window Act and country-specific helpdesks are some of the incentives in the sector-wise draft industrial policy of Andhra Pradesh.
“All these days we were waiting for the Central government’s package to be given to AP so that we could offer a double bonanza or combo offer of incentives of both the Centre and the state governments to the investors. AP government will come out with its policy this month itself,” said Chief Minister N. Chandrababu Naidu in reply to a question about AP’s industrial policy.
“A new Single Window Policy Act for time-bound, hassle-free clearance has also been prepared as a part of which the officials, who fail to give permissions in time despite all necessary documents being submitted by the investor, will be penalised. Also, Special Investment Regions Act that offers operational autonomy to the industries is being planned as part of the policy,” sources said.
For the foreign direct investment (FDI), the state has proposed to create a country-specific helpdesk. For example, people knowing Japanese, Korean and Chinese would be employed in helpdesks for investors of the respective three countries.
( Source : dc correspondent )
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