Rs. 967 crore for industrial promotion.

Proposing Rs. 967 crore towards promotion of industries in 2016-17, Finance Minister Etala Rajender, in his Budget speech recently, said industrial sector in the State is poised for an impressive growth on the back on uninterrupted power supply.

The changed power supply scenario was also highlighted by Socio Economic Outlook 2016. “With the turnaround of the power sector many industries are now actively expanding their production base, apart from new units coming in.” The Minister, highlighting the industrial policy unveiled by the State, said it has started yielding results with multinational as well as Indian companies, a list that includes Amazon, Micromax, Foxconn and ITC, setting up units. Since the launch of the policy clearance certificates have been issued to 1,609 units, he said, adding the projects approved entail an investment of Rs. 33,101 crore.

Mr. Rajender also announced that the Centre has given the final approval for setting up of a mega food park in Khammam district. Among major projects proposed in the State, he counted three aerospace parks, the National Investment and Manufacturing Zone (NIMZ) in Medak, the Pharma City near Hyderabad and a Textile Hub in Warangal. For the extension of Pavalavaddi scheme to all small scale industrial and food processing units the Budget provides for Rs.86.23 crore. In addition, Rs.7.46 crore under SC Sub Plan and Rs. 4.51 crore under Tribal Sub-Plan has been provided.


THE HINDU