Andhra Pradesh announces IT policy

K V Kurmanath Hyderabad | Updated on November 25, 2017 Published on August 01, 2014

15 per cent space reserved for SC, ST investors

The new IT Policy announced by the Andhra Pradesh Government has sops for big, small and medium enterprises. Besides giving power subsidies, the IT policy proposes to serve space for SC, ST entrepreneurs in built-up area of various projects.

The Policy, cleared by the Cabinet here on Friday, would provide for a budgetary allocation of Rs 2,500 crore in the next five years.

Firms that want to set up units at the proposed Mega IT hub at Visakhapatnam would get a subsidy of Rs 60,000 for every job they create. In other projects, they will get a subsidy of Rs 40,000 for a job. It, however, will be subject to a maximum of 80 per cent of the land cost.

The Minister said the small and medium enterprises would get a power subsidy of 25 per cent Mega projects (which create 5,000 jobs in five years) will get an investment subsidy of 10 per cent (of capital expenditure).

For SC and ST entrepreneurs, the Government reserve 15 per cent of all built-up space in a project. They will get an investment subsidy of 25 per cent and an interest subsidy of 8.5 per cent

Rural projects

The policy calls for reservation of turnkey projects (under Rs 50 lakhs) in districts to rural IT companies. They will get subsidised loans for building infrastructure and for operations cost.

Published on August 01, 2014
This article is closed for comments.
Please Email the Editor