AP Cabinet clears new industrial policy

The Andhra Pradesh Cabinet approved the new Industrial Development Policy 2020-23 and the amendment of AP Aquaculture Seed quality Control Act and the DPR (Detailed Project Report) prepared by RITES for the phase-1 construction of Bhavanapadu port with an investment of ₹3,670 crore.

Among several decisions taken during the State Cabinet chaired by Chief Minister YS Jagan Mohan Reddy, was in-principle approval for the establishment of an electronic manufacturing cluster in Kopparthi in YSR Kadapa district aiming to create employment for one lakh along with ₹10,000 crore investment, a Bulk Drug Park in East Godavari district with an investment of ₹6,940 crore and establishment of AP Bulk Drug Infrastructure Corporation.

The Cabinet also decided to invest ₹730 crore for creating basic infrastructure for the drug park and approved the setting up of two hydel power units in Visakhapatnam with a capacity of 115 MW each and a budget of ₹510 crore.

The Cabinet approved the YSR Asara scheme aimed at women empowerment along with YSR Sampoorna Poshana and Jagananna Vidya Kanuka.

Briefing media, State Minister Perni Venkataramaiah said that YSR Asara Scheme is aimed at empowering women and improving their financial stability. About 9.33 lakh women groups with 90 lakh women will be benefited with a total expenditure of ₹27,169 crore in the next four years. Of this ₹6,792 crore will be allocated during 2020-21. Under this scheme, the State government would waive the loans of the DWCRA groups in four installments.

Among other decisions, the Cabinet also approved YSR Bheema (life Insurance), which would be applicable for the 1.5 crore ration cardholders across the State, with a total budget of ₹583.5 crore.