(Eds: Adding more details) 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' and 'Telangana Logistics Policy'.
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.
Under the Telangana Food Processing Policy, 10 Food Processing Zones will be set up across the state in the first phase.
'The State cabinet gave the green signal to the Telangana Food Processing Policy.
Since the yield of paddy is increasing regularly, the cabinet 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 set up in 10,000 acres.
It is estimated to attract Rs 25,000 crore investments and provide direct employment to 70,000 people 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 be of 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 cabinet decided to give Rs 26,000 per acre in the first year, Rs 5,000 per acre in the second 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.
It decided to develop basic infrastructure facilities in godowns, cold storages, dry ports, truck parking and other amenities in the logistics sector and to set up a dry port in 1400 acres in the State (Multi Model Logistic Park) under the PPP Mode. PTI GDK APR ADMINISTRATOR APR ADMINISTRATOR