The Andhra Pradesh Cabinet approved a series of decisions across tourism, technology, and energy sectors, signalling a balanced approach to economic development and public welfare on Wednesday.
Disclosing the details, I&PR Minister Kolusu Parthasaradhi said the Cabinet approved the new LIFT Policy 4.0 (2024–29), offering land at a nominal rate of ₹0.99 per acre to attract top-tier IT/ITeS firms, GCCs, and developers.
Eligibility is strictly limited to Fortune/Forbes-ranked firms, or companies with at least $1billion in annual revenue, or market capitalisation.
Job creation mandates include 3,000 jobs for IT firms and 2,000 for GCCs within three years. Developers must build large-scale office infrastructure and begin construction in six months of land allotment.
In the tourism sector, the Cabinet approved outsourcing of 22 APTDC-run hotels and resorts across six clusters to private operators through a competitive RFP process. The goal is to improve service quality and financial sustainability.
