Andhra Pradesh government has launched its new ‘AP Information Technology Policy 2021-24’ on June 30, 2021.
Key Points
- New policy was approved by State Cabinet chaired by Chief Minister Y S Jagan Mohan Reddy.
- This policy is expected to generate more than 55,000 jobs in next three years.
- In order to implement the policy, a robust and holistic business environment would be created.
- IT, Electronics and Communications Department would also be transformed into revenue centre in a bid to achieve self-sustenance.
- It will also create 1.65 lakh indirect employment and ensure a holistic ecosystem development.
- Policy will be in force till March 31, 2024.
State’s Revenue
Andhra Pradesh will earn a revenue of Rs 783 crore in 10 years in the form of various taxes through this policy. Direct employment is also expected to infuse over Rs 2,200 crore year. It will thus lead to overall growth of economy through multiplier effect.
Key provisions of new IT Policy
New IT Policy links the incentive disbursement to realisation of committed direct employment which ensures transparent & effective utilisation of public funds. It offers end-to-end support for start-ups like plug & play office space, access to investors, & mentors, funds through venture capitals and private equity firms.
How it will be implemented?
Under the policy, government will establish incubation centers and organise hackathons & workshops for startups. Government will also establish an IT Emerging Technologies Research University in Visakhapatnam in order to develop State as leading contributor to national talent pool in IT & other emerging technologies.