By: K.V. Kurmanath
The Telangana Government has come out with a policy to make the State “a hub for mobile phone manufacturing” by announcing tax sops for the units.
The State government wants to utilise the two electronic hardware clusters allotted by the Centre to promote manufacture of mobile phones, components that go into the phones and accessories.
The two clusters are coming up at Fabcity (602 acres) and Maheshwaram (310 acres) in Ranga Reddy district.
The Telangana State Wide Investment Facilitation Board (T-SWIFT) has been created to process the applications for processing the clearance of Mega Projects. The board has prepared a set of recommendations to the sell destination.
The policy has called for allotment of land for at least 10 anchor units, with a capital subsidy of 20 per cent (with a ceiling of Rs. 10 crore per company). The units would get an interest subvention of 5.25 per cent on term loans taken for a period of 5 years.
The units would be eligible of reimbursement of 100 per cent stamp duty. The VAT rate has been fixed at 5 per cent.
Source: The Hindu