AP govt okays Rs 85,000 crore investments, boosts job creation

Vijayawada: The State Investment Promotion Board chaired by Chief Minister N Chandrababu Naidu has approved such proposals for Rs 85,000 crore, with a job potential for 33,966 persons, here on Tuesday. This was the first meeting of the board after it was set up by the present dispensation.

Naidu asked the officials to attract investments by overcoming the tough competition among states to get the maximum. “During the term of the previous government even those who promised to invest had backtracked. Let us formulate a policy by keeping in mind the needs of the industries,” he said and stressed the need for officials to accord respect to those who invest in the state.

“Officials must extend all help to the investors when they visit AP. Encourage them to invest in the state so that it would help generation of employment opportunities for the youth here,” the CM said.

The CM was informed by officials that the previous government did not offer any incentives to the industries though the first TD government in the state gave incentives worth Rs 3,883 crore. The YSRC government offered only Rs 1,961 crore worth incentives. When the first TD government could give incentives to the tune of 66 per cent, the YSRC government restricted it to only 34 per cent,” they said.

The chief minister asked the officials to ensure welfare to those who offer their lands for establishment of industrial units. He also asked them to replicate the land pooling system adopted in Amaravati to get lands for developing the capital city.

Naidu advised the officials to also try the second option of asking such industrialists to provide skill development and employment to those who parted with their lands.

Encouragement of investments

-Chief Minister N. Chandrababu Naidu urged officials to attract investments by providing a supportive environment and showing respect to investors.

-Naidu called for tailored policies to meet industrial needs and ensure long-term economic benefits.

-Officials noted the TD government offered higher industrial incentives of ₹3,883 crore compared to the YSRC’s ₹1,961 crore.

Naidu emphasized welfare for land providers and suggested replicating the Amaravati land pooling model, while also encouraging skill development and employment for those who provide land.