Subsidies galore

■ Power to the women entrepreneurs for next five years at a subsidized price of Rs 1.5 per unit

■ To allocate the association 31.77 acres at Koduru village in Anakapalli district

■ Rs 305 crore investment and creating 6,000 new job opportunities

■ Coromandel International Limited would receive a 30 percent investment subsidy in 10 equal instalments

■ Electricity subsidy of Rs 2 per unit for a maximum of 3.50 crore units annually for 10 years

■ Earlier, the subsidy had been provided only for manufacturing activities. It would now apply to transportation and logistics activities

Metro India News | AMARAVATI

Minister for Housing, Information and Public Relations, Kolusu Parthasarathy said that the cabinet cleared the proposal to provide power to the women entrepreneurs for next five years at a subsidized price of Rs 1.5 per unit. An additional 5% incentive would be given on SGST.

The Cabinet, at its meeting chaired by Chief Minister N Chandrababu Naidu on Thursday, cleared the proposals pertaining to the SC, ST and BC woman entrepreneurs.   Minister Parthasarathy said that the Association of Lady Entrepreneurs of India (ALEAP) had previously been allocated 34.19 acres at Balabhadrapuram in East Godavari district. But, at its request, it was decided to allocate the association 31.77 acres at Koduru village in Anakapalli district, which would result in Rs 305 crore investment and creating 6,000 new job opportunities.

Coromandel International Limited would receive a 30 percent investment subsidy in 10 equal instalments, an electricity subsidy of Rs 2 per unit for a maximum of 3.50 crore units annually for 10 years, and a 20 percent payroll cost subsidy. The company would invest Rs 1,539 crore and generate 750 new jobs, the Minister said.

The Cabinet, to encourage entrepreneurs from the BC, SC, ST, and minority communities, people with disabilities, and women, decided to extend the investment subsidy that was increased from 35 percent to 45 percent. Earlier, the subsidy had been provided only for manufacturing activities.

It would now apply to transportation and logistics activities, with a maximum subsidy of Rs 75 lakh. The subsidy would be applicable only to new investments, said the Minister. Earlier, SC, ST industrialists had received a 50 percent subsidy on land value, up to a maximum of Rs 2 lakh. This was now increased to 75 percent, with a maximum of Rs 25 lakh, he said.