Andhra Pradesh Chief Minister Chandrababu Naidu is throwing out every thing in his hat to attract industries to the truncated state. The Chief Minister a short while ago announced the cabinet approved industrial policy of the state which will enable the truncated state to battle with the fully equipped neighboring states. Here are some of the highlights of the Industrial Policy:
1. Single desk clearances for all industries in 21 working days.
2. 25% allowance for all the industries investing up to 50 Crore.
3. 100% Stamp duty allowance to SC, ST, BC and Women industrialists.
4. Roads, Land and 24 Hour Power Supply to industries. Land will be given at 99 years lease
5. The state government is also planning 3 Airports and 2 Ports between Bhogapuram and Kakinada.
The state government had also announced separate set of incentives for Textile, biotechnology, Automobile and Auto Components industries. Chandrababu also announced that Projects with an investment of Rs 500 crore or the ones which creates a direct employment to 2,000 people will be accorded mega industry status and will be considered for special package of incentives.
