Move to set up MSME park in every Assembly constituency gets Cabinet nod

The Andhra Pradesh State Cabinet has approved the proposal submitted by the Industries and Commerce Department to develop 175 MSME parks in the State, one each in all 175 Assembly constituencies, as part of the 'One Family-One Entrepreneur' policy.
The Cabinet also approved the Andhra Pradesh Capital Region Development Authority's (APCRDA) proposal to allot 50 acres of land for the development of a Quantum Valley in Amaravati. The APCRDA submitted a Detailed Project Report (DPR) for the project, Information and Public Relations (I&PR) Minister Kolusu Parthasarathy told the media at the Secretariat after the Cabinet meeting on Wednesday.
The Cabinet approved a proposal for the establishment of Andhra Pradesh State Quantum Mission (SQM), for which the government would work with institutions such as IIT Madras, TCS, and IBM.
Advanced research in quantum computing, AI, and cybersecurity, etc. would attract world-class researchers, bringing investments to the State. IBM will deploy '156-qubit Quantum System 2' in the State, while TCS will partner in software development and the L&T will participate in the development of Quantum Valley Tech Park.
Quantum Summit
This mission will contribute to cutting-edge research in cybersecurity, drug discovery, material science, and high-performance computing, transforming the State into centre for quantum technology, the Minister said, adding that the Quantum Summit would be organised in June to develop strategic action plans with international experts.
Mr. Parthasarathy said that the Cabinet approved the proposal by the Panchayat Raj and Rural Development Department for a one-time settlement of ₹5.75 crore for providing safe drinking water through RO Plants to Uddanam area and tribal areas in Srikakulam district under NTR Sujala Pathakam, and ₹8.22 crore as one-time settlement for 15 water treatment plants to cover 533 water-scarce habitations in four mandals in Kuppam constituency, he said.
This decision will ensure safe drinking water supply to 2.42 lakh people in 341 habitations across seven mandals including Palasa, Vajrapukotturu, Kaviti, Sompeta, Kamchili, Ichapuram, Mandasa, and tribal areas in Seetampeta mandal of Srikakulam district.
Clean drinking water will be made available to 2.85 lakh people in 533 habitations across Kuppam, Gudipalle, Shantipuram, and Ramakuppam mandals in Chittoor District, he said.
The Cabinet also approved a proposal to exempt stamp duty and registration fees for the transfer of 10.88 acres of land at Vanguru village in Eluru District, which former IAS officer Kasaraneni Damayanthi intends to donate to Hyderabad Eye Institute. Through this decision, Hyderabad Eye Institute will receive an exemption of ₹10.54 lakh in transfer duty.
The Cabinet ratified the revised administrative sanctions implemented for the modernisation works of Haritha Hotel Yatri Nivas in Visakhapatnam.
JetCity project
The Cabinet approved the proposals for completion of Flatted Factory Complex works at JetCity at Vemavaramu village in NTR district by Andhra Pradesh Economic Cities Promotion and Development Corporation Limited (APEDCO). The government will allot 10.12 cents of land to the APEDCO for the first phase of JetCity project, he added.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

India.com

5 hours ago

• India.com

Amid Israel-Iran war, India's 6 most valued firms earn Rs 1.62 lakh crore in just five days due to..., Mukesh Ambani's Reliance earns Rs...

Mukesh Ambani (File) While markets from United States to Asia have declined due to global tensions caused by the Israel-Iran war, which have been further exacerbated by America's entry into the war on Sunday, the Indian stock market remains unaffected, and is in fact witnessing a sort of boom, as six of country's 10 most-valued firms added a staggering Rs 1.62 lakh crore to their combined market capitalization (mcap) in the last week with Mukesh Ambani-led Reliance Industries, Sunil Mittal-owned Bharti Airtel and HDFC Bank, emerging as biggest gainers. Airtel, Reliance, HDFC biggest gainers According to market data, the market cap of telecom giant Bharti Airtel increased by Rs 54,055.96 crore, jumping to Rs 11.04 lakh crore, while the valuation of Mukesh Ambani-led Reliance Industries Limited surged Rs 50,070.14 crore to Rs 19.82 lakh crore, and HDFC gained Rs 38,503.91 crore, taking its mcap to Rs 15.07 lakh crore. Similarly, the market cap of Narayana Murthy-led IT giant Infosys increased by Rs 8,433.06 crore, reaching Rs 6.73 lakh crore, ICICI Bank mcap surged by Rs 8,012.13 crore to Rs 10.18 lakh crore, while SBI gained Rs 3,212.86 crore taking its market valuation to Rs 7.10 lakh crore. TCS, Bajaj Finance among laggards Meanwhile. Bajaj Finance, Tata Group's Tata Consultancy Services (TCS)– India's largest IT services exporter, Hindustan Unilever Limited (HUL), and LIC, emerged as laggards during the trade week. The mcap of Bajaj Finance decreased by Rs 17,876.42 crore to Rs 5.62 lakh crore, while TCS fell Rs 4,613.06 crore to Rs 12.42 lakh crore. The market value of HUL declined by Rs 3,336.42 crore to Rs 5.41 lakh crore, and that of LIC now stands at Rs 5.92 lakh crore after losing Rs 1,106.88 crore. Reliance remains India's most-valued domestic company Notably, Mukesh Ambani-led Reliance Industries remains India's most-valued domestic firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, LIC, Bajaj Finance, and Hindustan Unilever (HUL). The current market of Reliance Industries is estimated at Rs 19.82 lakh crore.

Hans India

6 hours ago

• Hans India

Six of India's top 10 firms add Rs 1.62 lakh crore in market value this week

The combined market capitalisation of six of India's top ten most-valued companies rose by Rs 1.62 lakh crore this week, reflecting strong investor sentiment in the equity markets. This rise in market value came as the benchmark Sensex jumped by 1,289.57 points, or 1.58 per cent, during the same period, signalling positive momentum in the market. Bharti Airtel emerged as the top gainer during the week, while a few big names like Bajaj Finance, TCS, and Hindustan Unilever saw their valuations decline. Bharti Airtel's market valuation saw a sharp rise of Rs 54,055.96 crore, reaching Rs 11,04,469.29 crore by the end of the week. HDFC Bank also witnessed strong gains, with its market capitalisation increasing by Rs 38,503.91 crore to Rs 15,07,281.79 crore. Other major gainers included Infosys, which added Rs 8,433.06 crore to reach a total valuation of Rs 6,73,751.09 crore. ICICI Bank's market value rose by Rs 8,012.13 crore to Rs 10,18,387.76 crore, while State Bank of India (SBI) added Rs 3,212.86 crore, taking its total to Rs 7,10,399.75 crore. On the other hand, Bajaj Finance suffered a loss of Rs 17,876.42 crore in its market capitalisation, which stood at Rs 5,62,175.67 crore. Tata Consultancy Services (TCS) saw a decline of Rs 4,613.06 crore, bringing its valuation down to Rs 12,42,577.89 crore. Hindustan Unilever's market cap slipped by Rs 3,336.42 crore to Rs 5,41,557.29 crore, and LIC lost Rs 1,106.88 crore, settling at Rs 5,92,272.78 crore. Despite some declines, the overall trend remained positive, especially for banks and telecom stocks. In the overall rankings of India's most-valued companies, HDFC Bank remained at the second spot, followed by TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, LIC, Bajaj Finance, and Hindustan Unilever. Meanwhile, in the previous week, nine of the country's ten most valued companies collectively had added Rs 1,00,850.96 crore to their market capitalisation.

United News of India

7 hours ago

• United News of India

Telangana: Singareni to set up Rs 3,000 cr pumped storage power plant at Medipalli mine

Hyderabad, June 21 (UNI) As part of its business expansion strategy, State-owned Singareni Collieries Company Limited (SCCL), which has already established thermal and solar power plants, is now venturing into an innovative new power generation initiative. Based on the directives issued by Chief Minister A. Revanth Reddy and Deputy Chief Minister Bhatti Vikramarka Mallu, Singareni has decided to set up a pumped storage power plant (PSP) at the site of the closed Medipalli Opencast Mine in Ramagundam-1 area, utilising the existing mine water sump, the Mining company said in a release here on Saturday. Chairman and Managing Director N. Balram said that this is the first of its kind project in Telangana, and expressed confidence that Singareni will successfully implement this pilot initiative. He stated that after completing preliminary studies, SCCL has now entrusted WAPCOS Limited—a government agency—with the task of preparing the Detailed Project Report (DPR) by officially issuing a Letter of Award. He said that the Deputy Chief Minister and Minister for Energy, Bhatti Vikramarka Mallu, had personally visited the Medipalli mine and the proposed site, and the state government has responded positively to the plan. The project is estimated to cost around Rs 3,000 crore. However, the plant is expected to generate a strong financial return for Singareni with a projected lifespan of 40 years at a capacity of 500 MW. Once the DPR is finalised by WAPCOS, tenders for construction are expected to be floated, he said. WAPCOS Limited, entrusted by Singareni, will carry out a comprehensive study for constructing the 500 MW pumped storage project using the Medipalli mine water sump. The DPR will include geological, geotechnical, hydrological, civil design, power generation capacity, mechanical and electrical designs, environmental and safety aspects. It will also provide estimates of construction time, total costs, and the market potential for the power produced by the plant. This kind of plant operates similarly to a hydroelectric project. In conventional hydro projects, electricity is generated using the natural flow of water turning turbines. In contrast, pumped storage plants work by pumping water to a higher elevation using solar power during the day, and releasing it through turbines at night to generate electricity. Currently, the Medipalli Opencast mine has a large water sump about 157 meters deep, which holds a substantial volume of water year-round. The proposed project will include the construction of another surface reservoir of similar capacity. During the day, water from the mine sump will be pumped into this surface reservoir using solar energy. At night, the water will be released back down through pipes, spinning turbines to generate power. Because water is pumped up and then used again for generation, this method is called a Pumped Storage Project (PSP). Due to the availability of both the deep water sump and suitable surface land for a reservoir at the Medipalli mine, SCCL has identified it as the optimal site for this project. The surface reservoir is expected to be around 2,350 meters in length and 23 meters in depth, with a total water storage capacity of 9.64 million cubic meters. Out of this, about 8 million cubic meters will be used for power generation through pumping. UNI KNR RN