6 months ago
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The State authorities has cleared incentives worthy implicit ₹100 crore for Information Technology (IT) and Electronics companies, according to Sreedhar Kosaraju, Chairman of the APDTI Network, connected Monday.
Speaking to The Hindu connected November 10, Mr. Sreedhar said that astir ₹60 crore of the full magnitude has been earmarked for IT firms alone. The clearance covers astir 50% of the pending inducement claims that had earlier been uploaded to the Comprehensive Financial Management System (CFMS). The remaining magnitude is expected to beryllium released successful the adjacent tranche, helium added.
Mr. Sreedhar said IT entrepreneurs were grateful to the State authorities for addressing their concerns and extending timely enactment to the industry. They besides appreciated the efforts of the ITE&C Department and the Economic Development Board (EDB) teams successful facilitating the process.
