Lucknow, Jan 6 (NationPress) The Uttar Pradesh Cabinet, led by Chief Minister Yogi Adityanath, has sanctioned an extensive package of unique incentives under the Semiconductor Policy 2024 to draw in significant investments exceeding Rs 3,000 crore in the semiconductor realm.

These incentives will be allocated on a customized basis and will encompass interest subsidies, refunds for employee expenses, a complete exemption from net SGST (State Goods and Service Tax) for a duration of ten years, and 100% EPF (employee provident fund) reimbursements for Uttar Pradesh residents up to Rs 2,000 monthly. Additionally, there will be reductions in water tariffs and a 2-rupee cut per unit on electricity costs for ten years.

State Finance and Parliamentary Affairs Minister Suresh Kumar Khanna informed the media post-meeting that semiconductor production is rapidly advancing in nations such as the United States, Europe, Japan, and Taiwan. These latest initiatives are designed to position India, and specifically Uttar Pradesh, as a central hub for this critical industry, while also generating significant investments and job opportunities. Out of the 14 proposals submitted to the cabinet, 13 received the green light.

In related decisions, the cabinet approved the development of a modern bus terminal on Tanakpur Road near the Pilibhit district headquarters. This facility will be established on 1.317 hectares of land leased from the revenue department to the Uttar Pradesh State Road Transport Corporation for 30 years, with an option to extend to 90 years. The new station, anticipated to be operational within two years, will greatly enhance travel for passengers heading to Uttarakhand and Nepal.

Furthermore, the cabinet authorized the demolition of 11 deteriorating structures at the Shiv Prasad Gupta SSPG Divisional District Hospital in Varanasi to pave the way for a 500-bed multi-super specialty hospital at an estimated cost of Rs 315.48 crore. This project, expected to be completed in four years, will receive funding of 60% from the central government and 40% from the state, enhancing healthcare services for patients in Purvanchal. In a similar vein, the cabinet approved plans to demolish old residential units for the 37th Battalion PAC in Kanpur and construct 108 new Type-One Special housing units to enhance living conditions for personnel.

Moreover, 50 acres of land in Tehsil Raja Talab, Varanasi district, will be leased for 99 years free of charge from the Animal Husbandry Department to set up an off-campus of the National Forensic Science University, Gandhinagar. This new facility aims to bolster academic and technological advancements in forensic science, cybercrime investigations, and the criminal justice system across the state. Additional approvals included modifications to the recruitment criteria for 18 vacant Regional Sports Officer roles in the Sports Department, ensuring that two-thirds of these positions will be filled through promotions, while one-third will be reserved for international medalists from the Olympics, Asian Games, or Commonwealth Games.