The Telangana council of ministers has proposed to offer the industry additional incentives like VAT, GST, SGST, and lower electricity tariffs and investment subsidies, among others, to encourage the industry towards increased hiring of locals.
The cabinet, at its meeting late on Wednesday, has decided to ensure availability of skilled manpower to the industry through institutions like Telangana Academy for Skill and Knowledge (TASK) and tagging the core industries with Industrial Training Institutes (ITIs) and Polytechnic schools.
The government has proposed additional incentives to the industry for enabling increased hiring of locals in the Category-I and Category-II jobs for both skilled and semi-skilled manpower. To be eligible for the government’s increased incentives, the industry should hire the locals up to 70% in semiskilled and 50% in skilled jobs in the Category-I and up to 80% semi-skilled and 60% skilled jobs in the Category-II.
In a statement, the government said one of the objectives of the new industrial policy was to attract investments to empower the local people by skill development, employment generation, strengthen economic wellbeing and improve overall standard of the living of local people.
Viewing that the information technology industry in Hyderabad should not be confined to West Zone of Hyderabad, the Telangana cabinet favoured encouraging the industry to spread to other parts of the city with incentives under Growth in Dispersion (Grid) policy.
The government has also decided to encourage and promote the use of the electrical vehicles through incentives to bring down air pollution. Accordingly, the cabinet has approved the Telangana State Electronic Vehicle and Energy Storage Solution Policy.
Apart from deciding to form a policy for simplified building construction permissions in the state, the cabinet has also decided to bring in a comprehensive policy to set up special economic zones for agri-processing units.