 "IT sector")
: The Andhra Pradesh government
on Wednesday came out with the new 'AP Information Technology Policy 2021-24' that is expected to generate more than 55,000 jobs over the next three years.
For this purpose, a robust and holistic business environment would be created and the IT, Electronics and Communications Department would be transformed into a revenue centre to achieve self-sustenance.
The State Cabinet, chaired by Chief Minister Y S Jagan Mohan Reddy, approved the new policy, which is also expected to create 1.65 lakh indirect employment thereby ensuring a holistic eco system development.
The policy would be in force till March 31, 2024.
The State would earn a revenue of Rs 783 crore over 10 years in the form of various taxes, while the direct employment alone is expected to infuse over Rs 2,200 crore every year, leading to the overall growth of the economy through multiplier effect, according to the policy note.
It said the new IT Policy links incentive disbursement to realisation of committed direct employment ensuring transparent and effective utilisation of public funds.
In a shift from the previous IT policy, the new one offers end-to-end support for startups like plug and play office space, access to investors, mentors, talent pool, funds through venture capitals, private equity firms and other commonly shared services on a variable chargeable basis, the note said.
The government would establish incubation centers and conduct hackathons and workshops for startups, it added.
The government would establish an IT Emerging Technologies Research University in Visakhapatnam to develop the State as the leading contributor to the national talent pool in IT and cutting-edge emerging technologies.
The university would focus on applied research in use of emerging technologies in areas of interest to the State.
Digital libraries and workplaces are proposed to be set up at the grama panchayat-level with access to high-speed Internet, six workstations and essential software.
They would also have video conferencing, printing and scanning and access to free-of-cost knowledge databases to provide an enabling ecosystem for 'work from anywhere' concept, the policy note said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
