Published 18:42 IST, October 26th 2020
Andhra Pradesh launches new Industrial Policy to boost entrepreneurship amid SC/STs
Jagan Mohan Reddy launched the state's new industrial policy, which he said was centred around 'building entrepreneurship among the underprivileged communities'
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In a bid to help aspiring entrepreneurs, Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Monday launched the state's new industrial policy (2020-23), which he said was centred around 'building entrepreneurship among the underprivileged communities.' Under the larger industrial policy, the Andhra Pradesh government has launched a new program titled "Jagananna YSR Badugu Vikasam" with an aim to provide seed capital assistance to entrepreneurs from the SC/ST community.
"Our new industrial development policy 2020-23 launched recently is centred on balancing growth across regions and communities. I firmly believe that this new policy is a vital step towards promoting entrepreneurship amongst the marginalized for inclusive growth and development," Chief Minister Reddy said.
Measures to boost SC/ST participation
"We intend to provide additional support to the weak and marginalized and hence have come out with this special industrial policy for SC/ST 2020-23. We are also providing seed capital assistance to support entrepreneurs start-up quickly and provide incentives on power, GST, and interest to reduce operating costs and provide support," said Minister for Industries, Mekapati Goutham Reddy.
The Andhra Pradesh Government plans to further increase the participation of the SC/ST community through special incentives promoting 362 manufacturing and 9,754 service sector activities among the socially-disadvantaged communities.
Apart from focusing on building entrepreneurship, the new policy also focuses on strengthening pre-establishment support, improving market linkages, credit facilities, and economic development, as per the state government.
Attempts to make land easily available to the entrepreneurs would be done through the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) guidelines. The state is also planning on revamping these guidelines to reserve at least 16.2% and 6% of the developed land reserved for SC/ST entrepreneurs respectively.
The Andhra Government also plans to boost this through the creation of a dedicated 'SC/ST entrepreneur facilitation cell.' A roadmap has been created for training these entrepreneurs across various sectors through APSSDC skill colleges.
(With Agency Inputs)
18:42 IST, October 26th 2020