Vijayawada: Industries department of Andhra Pradesh has cleared Rs 67.5 crore incentives to 72 industrial units through 167 claims, interest subsidy on bank loan, mortgage duty, power cost, sales tax and stamp duty to encourage industrial growth in the state.
The state-level committee presided over by commissioner of industries Siddharth Jain, on Thursday, mulled over the issues pending before the district-level committees and cleared the proposals for new units as well as extensions.
In line with the government’s intention to woo industrialists with quality power, the incentives were given to subsidise cost of power for new industries. The cost of it was Rs 36.47 crore, which is the major part of the subsidy sanctioned.
The incentives proposed to subsidise power cost forms 54 per cent of the total amount proposed for incentives which is also an added advantage for industrial growth in Andhra Pradesh, and especially for new entrants.
