YS Jagan participates in SIPB meeting, gives approval for setting up several industries

The State Investment Promotion Board (SIPB) met under the chairmanship of Chief Minister YS Jaganmohan Reddy. In this meeting held on Tuesday at the CM's camp office in Tadepalli, SIPB approved the proposal of setting up several large industries. To this extent, CM Jagan said. Instructions have been issued to take appropriate measures to complete the constructions within the scheduled time. He said that their activities should start within the stipulated time.

CM Jagan once again made it clear that 75 percent jobs should go to locals as per the law made by the government in every upcoming industry and directed the authorities to take action to that extent. He stated that after the YSRCP government came, they brought key changes in the policy of power projects and opined that the state government has brought back income through power projects.

CM Jagan said that the lease payments of Rs. 31,000 per acre per year for the land being taken will benefit the farmers in drought areas. Moreover, hw stated that the companies are paying the state at the rate of one lakh rupees per megawatt. He said that revenue will also come to the state in the form of SGST. He said that even the state does not have the responsibilities of the grid.