Lucknow: Uttar Pradesh government on Wednesday approved the IT Policy 2012 for encouraging investment in IT industry and generating employment opportunities.

Following this decision taken at a cabinet meet in Lucknow, chaired by Chief Minister Akhilesh Yadav, Lucknow and Agra would be developed as IT hubs and IT city and parks would be set up at these places, an official spokesman said in Lucknow.

To encourage industry, the government would be giving interest subsidy of five percent for the new units coming up and an exemption of 25 percent if land was being taken from state government authorities and agencies besides some other facilities in power connections among others.

To invite investors, road shows would be held in different cities of the country including Chennai and Bangalore.

The cabinet approved setting up of an IT city in Lucknow and decided to transfer 150 acres of animal husbandry department in Gajaria farm on Lucknow-Sultanpur road to the electronics department, official sources said.

This IT city would be equipped with all necessary facilities and would be self sufficient, sources said.

Among the other decisions, the Cabinet decided to hike the cash prize of Yash Bharti Samman from Rs Five lakhs to Rs 11 lakhs. This award is presented to those excelling in the field of classical music, folk music, literature and fine arts, science and sports .

For promotion of handloom weavers and acknowledging their works 'Janeshwar Misra handloom Award Scheme' with the first prize money of Rs 51 thousand has also been approved by the cabinet.

The cabinet okayed farmers' insurance of Rs five lakhs (maximum) and finalised the guidelines for determining the farmers' accident insurance scheme. The scheme would come into effect from April 1, 2012.

Sources said that the colour scheme for vehicles being run on permit contracts besides giving its nod on the ordinance proposal to amend UP Municipality Act.


Latest News from Uttar Pradesh News Desk