DIEPC approves Rs 4.07 cr sops to industries

Tirupati: The district industrial export promotion committee (DIEPC) meeting approved Rs 4.07 crore subsidies relating to 71 claims by clearing their claims in Tirupati district. Chairing the meeting at the Collectorate on Wednesday, District Collector K Venkataramana Reddy said that the loans under Prime Minister’s Employment Generation Programme (PMEGP) have to be grounded on time and all safety norms should be followed in industries.

He said the Lead District Manager (LDM) should ensure that banks should provide loans to the applicants, who are eligible for the same and reach the targets fixed for this financial year by working in a planned way. Under single desk portal, 224 approvals were sanctioned out of 255 applications received to set up industrial units from April 2023 while the remaining 28 applications will be cleared soon.

The DIEPC has approved incentives to the tune of Rs 4.07 crore out of which investment subsidy has been given to 19 industries, power subsidy to 23 and interest subsidy to 22, sales tax to five and stamp duty to two units. Under cluster development programme, the progress of wood carving cluster at Madhavamala in Yerpedu mandal, copper vessels cluster at Yerramareddipalem of Renigunta mandal, Venkatagiri saree printing and dyeing cluster and power loom cluster in Narayanavanam was reviewed by the committee.

The Collector said that 1.19 acres of land has been allocated by APIIC for one industry which is coming up with an investment of Rs 2.34 crore providing employment to 29 persons.

He directed that all industries should adhere to the safety norms to avoid accidents and the officials concerned should conduct awareness programmes on them from time to time.