Telangana draws investments worth Rs 2.34 lakh cr in 8 yrs

According to the report, till now more than 200 sick units were assisted by TIHCL

AgenciesUpdated: Wednesday, June 01, 2022, 11:16 AM IST
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Equity and till date over Rs 261 crore was released towards part of the equity and setting up infrastructure. | Pixabay

Telangana has attracted investments to the tune of over Rs 2.34 lakh crore since the formation of the state in 2014, an official report said.

To accelerate industrial growth in the state and to make Telangana a favored destination for investment, the state government had enacted the TS-iPASS( Telangana State Industrial Project Approval and Self Certification System) Act for granting approvals to the entrepreneurs at a single point within set time limits based on a self-certification furnished by the entrepreneurs.

"As of date, 19,837 units with proposed investment of Rs2,34,836 crore and proposed employment of 76,56,460 have obtained approvals. A total of 15,747 units with an investment of Rs 1,33,325 crore and employing 9,95,787 people have commenced operations i.e. 80 percent of units that have obtained approvals have commenced operations," it said.

The state government through its T-IDEA (Telangana State Industrial Development and Entrepreneur Advancement) incentive Scheme 2014 is providing various kinds of incentives to the entrepreneurs, besides setting up Telangana Industrial Health Clinic as a Non-Banking Finance Company (NBFC) with a corpus of Rs 100 crores of which Rs 10 crore is funded by the government.

According to the report, till now more than 200 sick units were assisted by TIHCL.

For the revival of Ramagundam Fertilizers & chemicals Limited, the state government has confirmed the equity of 11 percent. Equity and till date over Rs 261 crore was released towards part of the equity and setting up infrastructure.

For the revival of Sirpur Paper mills Ltd Aditabad, the K Chandrashekar Rao-led government has approved the proposal of J K Papers Ltd and sanctioned the special incentives according to its "Mega Project" status to it, it said.

The Telangana government also established four Regional Micro, Small Facilitation Councils at Rangareddy, Medchal-Malkajgiri, Warangal Urban, and Karimnagar for resolving delayed payments issues of MSMEs.

(With PTI inputs)

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