Uttar Pradesh: A set of unique incentives under the Semiconductor Policy 2024 has been approved by the Uttar Pradesh Cabinet, led by Chief Minister Yogi Adityanath, in an effort to draw significant investments in the industry totaling at least Rs 3,000 crore.

Interest subsidies, employee cost reimbursement, a 10-year complete exemption from net SGST (State Goods and Service Tax), 100% EPF (employee provident fund) reimbursement for Uttar Pradesh residents up to Rs 2,000 per month, water tariff concessions, and a 2-rupee per unit electricity bill relief are among the incentives, which will be given on a case-by-case basis.

Following the meeting, State Finance and Parliamentary Affairs Minister Suresh Kumar Khanna addressed media on the fast expansion of semiconductor production in nations including the US, Europe, Japan, and Taiwan. By creating significant investment and job possibilities, the new policies seek to establish India—and Uttar Pradesh in particular—as a major center for this vital sector. Thirteen of the fourteen suggestions that were submitted to the cabinet were approved.

In other decisions, the cabinet approved the building of a contemporary bus station on Tanakpur Road close to Pilibhit’s district headquarters. The Uttar Pradesh State Road Transport Corporation has a 30-year lease with the possibility of a 90-year extension on 1.317 hectares of revenue department land on which the facility will be built. Passengers traveling to Uttarakhand and Nepal would have more easier travel thanks to the new station, which is anticipated to be finished in two years.

At a cost of Rs 315.48 crore, the cabinet also approved the demolition of 11 deteriorating structures at Varanasi’s Shiv Prasad Gupta SSPG Divisional District Hospital to provide room for a 500-bed multi-super specialty hospital. The project, which will provide patients in Purvanchal with cutting-edge medical treatment, will be completed in four years and will be financed 60% by the federal government and 40% by the state. To enhance living circumstances for soldiers, the cabinet in Kanpur approved the demolition of the 37th Battalion PAC’s existing residential quarters and the construction of 108 new Type-One Special housing units.

Additionally, the Animal Husbandry Department would provide 50 acres of land in Tehsil Raja Talab, Varanasi district, for free on a 99-year lease so that the National Forensic Science University, Gandhinagar may develop an off-campus. It is anticipated that the new campus will improve forensic science, cybercrime investigation, and criminal justice academic and technical capacities across the state. Additional approvals included changes to the hiring guidelines for the Sports Department’s 18 open Regional Sports Officer positions. From now on, one-third of the posts will be designated for international medal winners from the Olympics, Asian Games, or Commonwealth Games, while the other two-thirds will be filled via promotion.