Cabinet clears slew of incentives for mega projects
The Andhra Pradesh Cabinet on Friday cleared the new tourism policy and the proposal facilitating payment of input subsidy within one month of crop damage. It has also given its nod to amending the State Survey and Boundary Act.
Addressing the media on Friday, I&PR Minister Perni Venkataramaiah said that incentives would be provided for tourism projects in the State. Tourism projects envisaging an investment of more than ₹400 crore would be called ‘mega tourism projects’.
The incentives for such projects include 100% subsidy in SGST, 100% reimbursement of Stamp Duty, provision of electricity at ₹2 per unit and 100% waiver of land use conversion charges. The Cabinet also approved the proposal to increase the land lease period from 33 years to 99 years for the mega projects.
Power charges waiver
The Cabinet decided to waive the fixed electricity deposit for cinema theatres in the State for three months. The charges for the months April, May and June would not be collected. For the remaining six months, a moratorium on payment would be extended. The government would also provide working capital loan to 1,100 theatres as part of the ‘restart package’. A loan of ₹10 lakh would be given to the theatres located in ‘A’ and ‘B’ centres. A loan of ₹5 lakh would be provided to the theatres located in ‘C’ Centres, the Minister said.
As part of the restart package, the government decided to extend loans to hotels, function halls, service providers and restaurants. The loan would range between ₹50,000 and ₹15 lakh. The package would benefit 3,910 units. A sum of ₹198.5 crore would be earmarked for the purpose, the Minister said.
The Cabinet also cleared the proposal to issue an Ordinance to establish the Andhra Pradesh Medical Education, Research Corporation (APMERC).
The corporation would take up construction of hospitals and establish new medical colleges, apart from strengthening the existing hospitals and nursing colleges.
The Cabinet also cleared the decks for the appointment of Jasti Nagabhushanam as Advocate-General of the State, the Minister said.
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