UP clears Rs 1.78-bn incentive for setting up Rs 23-bn TCS IT park in Noida

The proposed IT park is expected to generate 30,000 job opportunities

Uttar Pradesh government on Monday cleared a subsidy of almost Rs 1.78 billion to information technology (IT) major Tata Consultancy Services (TCS) for its proposed Rs 23-billion IT park in Noida.
 

Uttar Pradesh and TCS had signed a memorandum of understanding (MoU) at the UP Investors Summit in February 2018 relating to the establishment of the proposed IT facility, spanning about 74.76 acres, in Sector 157 of Noida. 

The land cost was computed to be Rs 6.88 billion and under the terms of the MoU, the government had promised a 25 per cent rebate on land value, which comes to