Business Daily from THE HINDU group of publications
Tuesday, Jun 10, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Tuesday, Jun 10, 2008 ePaper | Mobile/PDA Version | Audio |
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Government
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Industrial Policy Industry & Economy - Entrepreneurship States - Andhra Pradesh AP Govt reserves land for SC, ST entrepreneurs Before the Government had issued the orders, allocations were made to 45 entrepreneurs and after the orders were enforced another 45 people were allotted land. Our Bureau Hyderabad, June 9 The Andhra Pradesh Government has decided to reserve 16.2 per cent of land available in industrial estates for scheduled caste entrepreneurs and 6.6 per cent for scheduled tribe entrepreneurs. “This has become mandatory in the new industrial estates that are being developed by Industrial Infrastructure Corporation and if land is available, it will be extended to industrial estates which have already been created,” Ms J. Geetha Reddy, State Minister for Major Industries, Sugar, Commerce and Export Promotion, said while addressing a press conference here on Monday. According to Ms Reddy, before the Government had issued the orders, allocations were made to 45 entrepreneurs and after the orders were enforced another 45 people were allotted land. Earlier, the Minister reviewed the activities of the Andhra Pradesh State Financial Corporation (APSFC). “The Corporation has so far considered projects to the tune of Rs 96.68 crore to 77 units for setting up of different types of units by the SC/ST entrepreneurs in the State in the last three months,” Ms Reddy said. The aggregate margin money component is Rs 10.53 crore and the aggregate subsidy component Rs 18.23 crore. The State Government, she said, has agreed to provide guarantee for the loans being sanctioned by commercial banks and financial institutions to promoters belonging to SC and ST categories. “Now we are considering subsidising these loans so that they carry interest of three per cent per annum (paavala vaddi) in the same way as it is being extended to self-help groups. The issue might come up for discussion at the next Cabinet meeting,” Ms Reddy said. More Stories on : Industrial Policy | Entrepreneurship | Andhra Pradesh
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