Amaravati, Oct 22 (PTI) The Andhra Pradesh government has earmarked Rs 300 crore in FY26 to incentivise organisations and industries, and on Wednesday released Rs 60 crore as the third quarter budget through the IT Department for this purpose.
The promotion wing of Andhra Pradesh’s Information Technology, Electronics & Communications Department released Rs 60 crore towards paying incentives to industries and organisations during the third quarter of fiscal 2025-26.
“The finance department sanctioned the release of Rs 300 crore towards payment of incentives to organisations/Industries for the FY (financial year) 2025-2026,” said IT Secretary Bhaskar Katamneni in a government order (GO).
The incentives worth Rs 60 crore will be distributed through Andhra Pradesh Technology Services Ltd in the third quarter.
“Sanction is hereby accorded to release Rs 60 crore for the 3rd quarter budget for the financial year 2025-26 towards payment of incentives to organisations/industries through the Andhra Pradesh Technology Services Ltd, Vijayawada,” said Bhaskar.
He noted that the incentives will go to organisations and industries which engage in activities that contribute towards implementing the southern state’s policies such as Andhra Pradesh IT & GCC Policy 4.0, Andhra Pradesh Electronics Manufacturing Policy 4.0 and others for the period 2024-29.
These policies are aimed at strengthening infrastructure such as co-working and neighbourhood spaces, bolstering employment, attracting global IT firms and establishing the state as a hub for data centres.
They also aim to drive innovation, employment, digital economy growth, position the state as a hub for electronics manufacturing, emerging technologies and others. PTI STH GDK KH
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