Cabinet approves new LIFT coverage to draw top-tier IT/ITeS corporations, GCCs

The Andhra Pradesh Cabinet permitted a sequence of choices throughout tourism, expertise, and power sectors, signalling a balanced method to financial improvement and public welfare on Wednesday.

Disclosing the main points, I&PR Minister Kolusu Parthasaradhi mentioned the Cabinet permitted the brand new LIFT Policy 4.0 (2024–29), providing land at a nominal price of ₹0.99 per acre to draw top-tier IT/ITeS corporations, GCCs, and builders.

Eligibility is strictly restricted to Fortune/Forbes-ranked corporations, or firms with at the very least $1billion in annual income, or market capitalisation.

Job creation mandates embrace 3,000 jobs for IT corporations and a pair of,000 for GCCs inside three years. Developers should construct large-scale workplace infrastructure and start development in six months of land allotment.

In the tourism sector, the Cabinet permitted outsourcing of twenty-two APTDC-run lodges and resorts throughout six clusters to non-public operators via a aggressive RFP course of. The purpose is to enhance service high quality and monetary sustainability.

Operators should reveal expertise managing 3-star or greater properties, and meet strict monetary and operational standards. While 46 everlasting staff will stay with APTDC, the remainder of the 418 workers can be transferred to new operators. Selected corporations can even be liable for renovating the infrastructure.

The Cabinet cancelled the controversial land allotment to the Oberoi Group in Tirupati, made in 2021. Following public outcry over the challenge’s proximity to the temple city and a proper request from the Tirumala Tirupati Devasthanams (TTD) Board, the federal government agreed to swap the APTDC land in Peruru with 25 acres of TTD land in Tirupati RS village. The resolution underlines the federal government’s dedication to defending spiritual sentiments.

In the power sector, the Cabinet permitted three key proposals. A ₹900-crore authorities assure would assist the working capital wants of the APPDCL, which is dealing with liquidity points on account of fee delays from the DISCOMs. The Cabinet permitted ensures price ₹4,574 crore for RDSS loans to APSPDCL and APCPDCL to make sure uninterrupted execution of good metering and infrastructure upgrades.

The Cabinet permitted the issuance of a preliminary notification to bifurcate Y. Ramavaram mandal in Alluri Sitharama Raju district into Upper Y. Ramavaram and Lower Ramavaram for higher administrative effectivity.

The Cabinet permitted a proposal to scrap the prevailing media accreditation tips and introduce a brand new framework, titled ‘Comprehensive A.P. Media Accreditation Rules, 2025’, the Minister mentioned.