Vijayawada: In a bid to woo domestic and foreign investment, Andhra Pradesh has decided to give mega tourism project status to projects envisaging an investor of at least Rs.400 crore.
The Cabinet of Andhra Pradesh on Friday approved New Tourism Policy in which it was decided to dole out stops to investors.
The meeting chaired by Chief Minister Y.S. Jagan Mohan Reddy, gave the nod for paying input subsidy in one month of crop damage and to amend the State Survey and Boundary Act among other issues.
Information & Public Relations Minister Perni Venkatramaiah told the media that incentives would be provided to the projects investing in the State.
The incentives include, 100% subsidy in State GST, 100% reimbursement of stamp duty, electricity at Rs.2 per unit and 100% waiving of land use conversion charges. The Cabinet also cleared the proposal to increase the land lease period from 33 to 99 years for mega projects in tourism industry.
The Cabinet approved for Rs.198.50 crore relief and restart package for hotels, function halls and restaurants which are in crisis due to the pandemic.
Through this package, loans from Rs.50,000 to Rs.50 lakh will be provided to each unit and a moratorium of six months is provided and 4.5% of interest subsidy for first year will be provided by the government.
The Minister said the Cabinet approved comprehensive land resurvey from December 21, 2020. The Cabinet made five amendments to Andhra Pradesh Survey and Boundary Act 1923 as per the needs of the resurvey to be conducted. Maps will be designed for every land based on sub division and the boundary of the land will be tagged with GPS coordinates, he said.
The Minister said the cabinet approved restart package to film industry.
The government has decided to waive fixed power charges of theaters for three months (April, May and June), and the payment for six months is postponed for multiplex and other theaters. It is expected to benefit 1100 theaters across the State.