VIJAYAWADA: The State Cabinet, which will meet under the chairmanship of Chief Minister N Chandrababu Naidu on Wednesday, is likely to take several decisions about policies of various sectors.
Over the past week, Naidu has held several meetings and reviewed draft policies, particularly about industrial development, electronics, clean energy, MSME (Micro, Small and Medium Enterprises), and private industrial parks.
In a post on X, Minister for Industries, Commerce and Food Processing TG Bharath said, “Today, we had the final review with our Hon’ble Chief Minister @ncbn garu on the new industrial policy, food processing policy, and industrial parks policy, which will be presented to the cabinet tomorrow. These initiatives are poised to be game changers for Andhra Pradesh.”
During the review meetings, the Chief Minister made it clear that generating jobs is his government’s top priority. He emphasised that the policies for industries should pave way for ensuring speed of doing business to attract investments. The TDP-led NDA government in the State had promised to create 20 lakh jobs in the next five years.
After three months of exercise, officials prepared draft policies for 10 different departments and presented them to the Chief Minister.
Industrial incentives via escrow accounts likely to boost growth
The drafts were formulated after policies under implementation in other States were studied and experts in the respective fields were consulted.
According to the draft policies, the first 200 companies that come forward to submit their Consent of Establishment and Date of Commercial Production may be provided with more perks, while industries that provide more employment opportunities will be given additional 10% incentive.
The State government is also mulling over providing industrial incentives through escrow accounts, which the Chief Minister believes will help further encourage industrial progress and improve employment opportunities.
Officials were asked to formulate the MSME policy with focus on the concept of ‘One Family, One Industrialist’.
The Cabinet will also hold a discussion on the new clean energy policy, which intends to make the State number one in the sector.
The Cabinet is also likely to ratify the Chief Minister’s decision to abolish the garbage tax, and discuss the new excise policy as well as the modified free sand policy that will be implemented in the State from October 16.
