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Business Other News 26 Jan 2018 Andhra Pradesh: Powe ...

Andhra Pradesh: Power sops to boost industrial growth

DECCAN CHRONICLE.
Published Jan 26, 2018, 2:02 am IST
Updated Jan 26, 2018, 3:20 am IST
In line with the govt’s intention to woo industrialists with quality power, the incentives were given to subsidise cost of power for new industries.
Representational image
 Representational image

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.

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Location: India, Andhra Pradesh




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