VIJAYAWADA: The Andhra Pradesh Legislative Assembly has passed amendments to the Assigned Lands Act, enabling the leasing of assigned lands to clean energy companies. Revenue, Registration, and Stamps Minister Anagani Satya Prasad presented the proposal, which was approved by the House on Thursday.
The minister explained that the reform is aimed at promoting industrial growth, creating employment opportunities, and ensuring stable income for land assignees. Under the new provisions, lands will be leased at `31,000 per acre annually, with a 5% increase every two years.
Anagani noted that renewable energy projects have already attracted investments worth `10 lakh crore. Once these projects are fully operational, they are expected to generate employment for nearly 7.5 lakh youth, contributing to the State’s target of providing jobs to 20 lakh people.