The Hindu Business Line : AP Govt committed to creating 2 lakh jobs: CM

Hyderabad June 11 The Chief Minister, Dr Y.S. Rajasekhara Reddy, has reiterated the State's commitment to create two lakh jobs within two years and has directed the Finance Department to clear various incentives and concessions as per the industrial investment policy.

Reviewing the performance of the industrial sector and investment flow over the last few years, Dr Reddy said, "You must do everything to achieve the target of creating two lakh jobs in the manufacturing sector alone. There is an industrial buoyancy and investment boom and we must fully make use of it."

According to a statement from the Chief Minister's Office, the total number of projects in 2004-07 stood at 6,092, involving investments of Rs 10,571 crore and creation of 1.28 lakh jobs.

Iron and steel, sponge iron, paper, cotton yarn, cement, ceramics, food processing are among the sectors witnessing investments along with a large number of SSI units in areas such as electrical and electronic goods, food, agro, marine products and cotton and jute producers.

Referring to large and medium-sized industries, he said that during the last three years, about Rs 8,999 crore of projects, involving 44,620 jobs, were implemented.

It is estimated that projects with investment of Rs 19,200 crore and employment potential for 38,118 people are under implementation.

Reviewing the performance of the Andhra Pradesh Mineral Development Corporation, he said that it managed to log revenues of Rs 100 crore with an all-time high profit of Rs 33 crore during 2006-07.

This year also marked high output of barites from the Mangampeta mines.

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