Amaravati As AP Capital
HYDERABAD:A�After a five-hour marathon meeting of Andhra Pradesh Cabinet, chaired by Chief Minister Chandrababu Naidu today, the team has approved Amaravati as the new capital city for its historic prominence.A�A�The Cabinet has also given a green signal for its new industrial policy.
- Amaravati as new capital
- Tullur was also considered
- Capital plan from Singapore
- Will attract investments
- Exert pressure on Central for special status
The team has also considered Tullur, but since Amaravati, which is near Guntur, isA�known for spreading Buddhism centuries ago, and also foreseeing a tremendous future and scope for developing it as a new capital on par with other international cities such as Singapore, they have decided on Amaravati as per the reports.
The Cabinet felt that the new industrial policy will boost international business honchos to rope in with their investments. The industrial policy, a brainchild of Chandrababu Naidu, is likely to fetch huge investments from abroad to develop the new capital city, Visakhapatnam, Tirupati and other cities. This policy on dissemination will definitely prove handy for the startup AP Government to attract industrialists and businessmen of world importance, the team said.
The policy would also propagate a non-corrupt and hassle-free regime offering all permissions for new industries, businesses, startups and entrepreneurs.
However, the AP Government received a new capital city plan from Singapore and Naidu seems to be content to develop Amaravati on par with international standards.
The Cabinet extended thanks to the Centre for allocating funds to the new capital and to the State government. It was also decided to continue to exert pressure on the Centre to offer special status and special package for Andhra Pradesh in order to fill its revenue deficit and overcome financial bankruptcy.
Other key decisions taken during the Cabinet meeting included offering special incentives to industrialists and businessmen whose investments are above Rs 100 crore. It was also decided to encourage agriculture and biotech sectors besides setting aside a land bank of 10 lakh acres, giving lease for about 99 years.
The Cabinet gave its nod to encourage the women entrepreneurs of SC, ST, BC communities. VAT and GST will be reimbursed for them up to five years if they met the norms of a�?Swatch and Greena�? AP programs. (NSS)