Hyderabad, July 14 (PTI):Aimed at attracting huge investments into Telangana, the state cabinet on Wednesday gave the green signal to the 'Telangana Food Processing Policy', under which 10 Food Processing Zones will be set up across the state in the first phase.
The cabinet, which met on Tuesday and Wednesday, also decided to encourage and inspire farmers to take up Oil Palm cultivation in 20 lakh acres during 2022-23.
'The State cabinet gave the green signal to the Telangana Food Processing Policy.
Since the yield of paddy is increasing regularly, the state cabinet has decided to set up Food processing Units in a big way in the State.
It was also decided that in the first phase, 10 Food Processing Zones will be set up,' an official release said.
The cabinet instructed the officials concerned to ensure that Telangana Special Food Processing Zones are set up between 500 and 1000 acres and by 2024-25, these are to be set up in 10,000 acres.
It is estimated to attract Rs 25,000 crore investments and provide 70,000 direct and indirect employment to three lakh people through the zones.
It was also decided to give special incentives to the food processing units, which will have international quality.
The Cabinet also decided to give incentives to entrepreneurs who come to invest in the sector through Food Processing Policy guidelines.
As part of encouraging Oil Palm cultivation, the State cabinet decided to give Rs 26,000 per acre in the first year, Rs 5000 per acre in the second year and third years as an input financial incentive as subsidy to farmers.
The Cabinet instructed that all the vacancies in the Agriculture and Civil Supplies department be filled up. PTI GDK APR ADMINISTRATOR APR ADMINISTRATOR