Andhra Pradesh government declared a special industrial policy for SC / ST entrepreneurs for 2020-23 on Monday.
Chief Minister of Andhra Pradesh Y.S Jagan Mohan Reddy said the program was another step in ensuring social justice and that the SC of the state will have various incentives to encourage entrepreneurship.
The new special policy offers tax benefits, in addition to exemption from stamp duty, investment subsidies, land allocation, electricity, interest subsidies, net SGST, quality certification or patent registration, seed capital, and any other assistance as needed.
Registration of land acquisition for the establishment of companies in Industrial zones will also be made possible, the CM said. Jagan said that 16.2% of the Andhra Pradesh Industrial Infrastructure Corporation’s land in industrial parks is reserved for SCs and 6% is reserved for ST entrepreneurs.
Jagan instructed the officials to concentrate on preparing the details needed for SC / ST entrepreneurs who intend to set up an industry on who to meet and how to proceed.