The Uttar Pradesh State Cabinet, in a significant move to position the state as a global electronics manufacturing hub, approved crucial amendments to its Semiconductor Policy 2024 during its meeting on Tuesday. The revised policy empowers the government to offer special incentives on a case-by-case basis for investments of Rs 3,000 crore and more.
Boosting UP's Semiconductor Ambitions
Finance and Parliamentary Affairs Minister Suresh Khanna stated that the decision was driven by the rapid expansion of semiconductor manufacturing in nations like the United States, Europe, Japan, and Taiwan. The objective is to attract large-scale investments and generate substantial employment within Uttar Pradesh. The cabinet considered a total of 14 proposals, giving the green light to 13 of them.
Under the newly approved framework, eligible semiconductor units will receive a comprehensive package of benefits. This includes an interest subsidy, reimbursement of employee costs, and a 100% exemption on net State Goods and Services Tax (SGST) for a period of 10 years. Furthermore, the policy mandates 100% reimbursement of the Employees' Provident Fund (EPF) for employees domiciled in UP, along with concessions on water charges and relief on electricity tariffs for a decade.
Key Infrastructure and Development Projects Cleared
Beyond the semiconductor push, the cabinet sanctioned several other important projects across the state. Approval was granted for the construction of a modern bus station near the district headquarters on Tanakpur Road in Pilibhit. This facility will be leased to the Uttar Pradesh State Road Transport Corporation (UPSRTC) for an initial period of 30 years, with an option to extend the lease up to 90 years.
In a major boost for healthcare infrastructure in Varanasi, the cabinet cleared the construction of a 500-bed multi super-specialty hospital at the Shiv Prasad Gupta (SSPG) Divisional District Hospital campus. The project, with an estimated cost of Rs 315.48 crore, is slated for completion within four years. The funding will be shared, with 60% coming from the Central government and the remaining 40% from the state.
Sports Recruitment and Education Expansion
The cabinet also introduced amendments to the recruitment process for regional sports officers within the state's sports department. Out of the 18 sanctioned posts, 12 will be filled through internal promotion. In a notable move to honour sporting excellence, the remaining 6 posts will be reserved for international medal-winning athletes from prestigious events like the Olympics, Asian Games, and Commonwealth Games.
In the field of education, the cabinet approved the allotment of 50 acres of land free of cost for establishing an off-campus of the National Forensic Sciences University (NFSU), Gandhinagar, in Varanasi. The land, located in Tehsil Raja Talab, will be transferred from the animal husbandry department and allotted on a 99-year lease, marking a significant step in expanding specialized higher education in the region.
