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Uttar Pradesh Approves Targeted Incentives for Rs 3,000-Crore Semiconductor Projects

The case-by-case package aims to draw global chipmakers using tax breaks plus utility subsidies.

Overview

  • Eligible units will receive interest subsidies, employee cost reimbursement, a 10-year exemption on net SGST, Rs 2 per unit electricity relief for 10 years, water concessions, and 100% EPF reimbursement for UP domiciles capped at Rs 2,000 per month.
  • SOPs for Global Capability Centres were approved as officials reported that 21 companies have begun investing in the state this financial year.
  • The cabinet expanded the Rs 5,000 stamp-duty cap on intra-family property gifts to include commercial properties in both rural and urban areas.
  • A 500-bed multi-super-speciality hospital in Varanasi was cleared at a cost of Rs 315 crore with 60% central funding and a four-year completion target.
  • Fifty acres in Raja Talab, Varanasi, were allotted on a 99-year lease for a National Forensic Sciences University campus.