Chief Minister Y.S. Jagan Mohan Reddy on Friday credited ₹1,124 crore towards incentives for Micro, Small and Medium Enterprises (MSMEs) and textile and spinning mills, benefiting a total 97,423 units and over 12 lakh employees.
The textile and spinning mills got ₹684 crore and MSMEs ₹440 crore, including rebate on electricity bills payable by them. With this, the expenditure incurred by the government on MSMEs so far amounted to ₹2,086 crore. It consisted of ₹1,588 crore arrears left over by the TDP government. A large number (62%) of the beneficiary industries are run by BCs, SCs, STs and minorities and 42% by women.
On the occasion, Mr. Jagan said supporting MSMEs was crucial to save the economy which took a severe beating owing to the COVID pandemic as it sent growth rates crashing around the world, and India was no exception to the downward curve.
In the last 27 months, he said, the government provided over 25 welfare schemes to the people without any discrimination and corruption even in difficult times, due to which the purchasing power had been sustained and it helped in the survival of industries.
The Chief Minister said that 68 major industries had invested ₹30,175 crore and provided direct employment to 46,199 people since the YSR Congress Party formed the government in 2019. Besides, 62 mega industries were being set up with an employment potential for 76,916 people. In order to generate additional employment, the government had already brought the AP Employment of Local Candidates in Industries/Factories Act, 2019.
Mr. Jagan said emphasis had been laid on Electronics Manufacturing Clusters (EMCs). One such major EMC was coming up at Kopparthi in Kadapa district at a cost of ₹730.50 crore, wherein investments amounting to ₹10,000 crore were targeted to be attracted.
Similarly, a ‘YSR Jagananna mega industrial hub’ was developed at Kopparthi, with an aim to attract investments worth ₹25,000 crore. As part of the Chennai-Bangalore Industrial Corridor, the government was developing the Krishnapatnam greenfield industrial node in 13,000 acres at an estimated cost of ₹2,139 crore.
Steel plant
Mr. Jagan said the State government had stepped in to set up the integrated steel plant (named YSR Steel Corporation Limited) envisaged in the A.P. Reorganisation Act, in Kadapa district as the Central government’s commitment thereof did not materialise. The estimated cost of YSR Steel Corporation was about ₹13,500 crore.
The government was developing nine fishing harbours at a total cost of ₹3,827 crore and prioritised the construction of greenfield ports at Bhavanapadu, Machilipatnam and Ramayapatnam by 2024 at a cost of ₹13,000 crore. Focus was also laid on construction of the greenfield airport at Bhogapuram in Vizianagaram district at a cost of ₹3,000 crore.
Schemes such as YSR Navodayam, Jagananna Badugu Vikasam, Jagananna Thodu, YSR Aasara and YSR Cheyutha were rolled out to support MSMEs and encourage women and weaker sections to establish industries. Through these schemes, a total of 3,72,400 women belonging to BC, SC, ST and minorities were self-employed, the Chief Minister added.
