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Naidu unveils new industrial policy

Naidu unveils new industrial policy
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AP Chief Minister N Chandrababu Naidu laid a red carpet for the prospective investors with his new industrial policy which he announced here on Wednesday. Giving a firm assurance that their projects would get all State government clearances within 21 days, the Chief Minister said the policy had envisaged rich bonanza for investors, including reimbursement of 100 per cent stamp duty and transfer duty paid by the industry on purchase

Visakhapatnam: AP Chief Minister N Chandrababu Naidu laid a red carpet for the prospective investors with his new industrial policy which he announced here on Wednesday. Giving a firm assurance that their projects would get all State government clearances within 21 days, the Chief Minister said the policy had envisaged rich bonanza for investors, including reimbursement of 100 per cent stamp duty and transfer duty paid by the industry on purchase or lease of land, 50 per cent of VAT or CST for a period of seven years for large units and special packages for MSMEs and SC/ST/BC entrepreneurs. The Chief Minister said the single desk clearance system to be headed by the State Commissioner of Industries would be based on an e-platform, integrating pre-establishment and pre-operation stage clearances.

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