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Our Bureau

Hyderabad, Oct. 8 The Andhra Pradesh Government has decided to extend certain subsidies and concessions to scheduled caste entrepreneurs beyond those offered under the Industrial Investment Promotion Policy.

While the Andhra Pradesh State Financial Corporation has been directed to increase lending to the scheduled caste entrepreneurs, the Andhra Pradesh Industrial Infrastructure Corporation shall allocate about 16.2 per cent of number of plots to these entrepreneurs in the new industrial estate and in existing estates on a preferential basis.

However, a SC entrepreneur shall obtain the necessary clearances as a precondition for claiming such benefits.

It may be recalled that the State decided to extend certain concessions to scheduled tribes in June 2007 following suggestions by the Andhra Pradesh Tribal Advisory Council and a review of AP Industrial Policy 2005-2010.

The concessions cover 25 per cent rebate on land cost, rebate on power tariffs, 15 per cent subsidy on fixed capital cost, 35 per cent subsidy on fixed capital investment, 3 per cent interest subsidy on prime lending rate, subject to a maximum of Rs 5 lakh.

This will be in addition to other concessions and facilities offered to other entrepreneurs as per the industrial policy.

The Government Order for fresh concessions to scheduled caste entrepreneurs is a follow-up of recommendations made by the Andhra Pradesh Tribes Advisory Council and suggestions made by the Committee on Welfare of Scheduled Tribes and similar offers extended to STs.

These were also followed by recommendations of the Secretary, Tribal Welfare, and Commissioner of Industries, who reported that huge undisbursed funds are available under the incentives for scheduled caste and ST entrepreneurs and requested the Government to consider concessions to encourage entrepreneurs in the State.

More Stories on : Social Welfare | Entrepreneurship | Andhra Pradesh

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