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The Telangana government has announced a new policy that seeks to provide additional incentives to local people in certain categories.
The State decided to provide additional incentives to firms that hire 70 per cent of their unskilled workforce and 50 per cent of skilled workforce from among locals. In the second category, the benefits will be extended to firms that hire 80 per cent of their unskilled workforce and 60 per cent of skilled workforce from among locals.
Besides getting benefits under various policies, the firms that conform to the new norms would get additional incentives in the form of GST, subsidy for manpower training and concessions in electricity tariff.
The State Cabinet, at its marathon 8.30-hour meet on Wednesday, discussed the incentives given in States such as Maharashtra, Karnataka, Andhra Pradesh and Madhya Pradesh.
GRID Policy for IT Industry
Telangana’s information technology industry, which notched up IT and BPO exports worth ₹1.2 lakh crore, is largely attributed to firms located in the Western and South-Western parts of Hyderabad.
Almost all of the IT firms are located in Madhapur and Gachibowli areas, resulting in skewed spread of IT firms in only these regions and putting pressure on physical infrastructure.
As part of the strategy to decentralise the industry, the Telangana Cabinet on Wednesday approved the GRID (Growth in Dispersion) Policy to give incentives to IT companies that will set up their units.
The idea is to reduce pressure on traffic and residential infrastructure in one part of the city by distributing the offices in different parts of the city. The State Cabinet also gave its nod to the new Secretariat building designs. The new building, which is being constructed in 25.5 acres, will have seven storeys. It will be ready in a year.
Agri-based industries
The State will have a comprehensive policy to promote agri-based industries. A meeting of relevant ministers and officials will be convened soon to prepare the policy with incentives to the agri-based firms. The Cabinet said that special economic zones should be formed to get minimum support price for the farmers in niche areas and to create more jobs.
The Cabinet has also decided to come out with an exclusive Labour Policy to deal with the issues related to migrant labourers. The decision has been taken to come to the rescue of the migrant lab.
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