Telangana government unveils New Industrial Policy

Telangana government has unveiled New Industrial Policy 2015 to boost industrial activity and employment opportunities in the state.
It was unveiled by Chief Minister K Chandrasekhar Rao in Hyderabad.
Key facts about Telangana’s New Industrial Policy

• Focuses to give quick, time-bound and transparent approvals for setting up projects in the state.
• Establishment of a single window clearance system and give clearances in 2 weeks for mega projects. Penal action against officials for delaying the process of applications.
• Prescribes norms for giving permissions to Mega project proposals with investments of Rs. 200 crore and above, large project proposals with investment of Rs 10 crore-Rs 200 crore and small and medium project proposals.
• Self-certification system has been framed for industrialists. It will be backed by the Telangana State Industrial Project Approval and Self Certification System (TS-iPASS).
• 14 identified core areas for a focused approach are Life Sciences, Information Technology, Aerospace, Pharma, textiles, minerals automobiles and transportation and logistics.
• Special incentives for entrepreneurs belonging to women and SC and STs.
• Telangana State Industrial Infrastructure Corporation (TSIIC) will secure statutory clearances for the Industrial Parks.
• To develop Industrial Townships to make it easier to get to work.

Month: Current Affairs - June, 2015