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Over 9,600 proposals received under TS-iPASS

Telangana received over 9,600 investment proposals with an investment outlay of Rs. 1.60 lakh crore in the five years of TS-iPASS, the much-acclaimed system introduced by the State government for speedy and time bound processing of applications for new industrial projects.

These proposal have a potential to generate employment opportunities for 11.37 lakh individuals.

Stating this, The Socio Economic Outlook 2019 - that was presented to the Assembly on Monday - said of the total proposals received, 6,935 units have commenced their operations with an investment outlay of Rs. 76,398.78 crore and creating employment opportunities for 5.23 lakh people.

As regards the remaining projects, 634 were at advanced stage of commissioning, while 551 were at an initial stage. The number of projects that are yet to start construction is 1,484.

A sector wise break-up of the 9,604 investment proposals, received under TS-iPASS, showed that those in engineering and food processing sectors dominated the list with 1,985 and 1,495 proposals respectively. In terms of investment, thermal power projects (Rs. 61,368.41 crore); real estate, industrial parks and IT buildings (Rs. 32,957.62 crore); and solar and other renewable energy (Rs. 17,072.91 crore) were at the top three positions.

The document, forming part of the Budget 2019-20 presented by Chief Minister K. Chandrasekhar Rao, said Telangana government is committed to provide a graft-free, hassle-free environment in which the entrepreneurial spirit of local, domestic and international investors will thrive and they will set up industrial units in the State as their preferred investment destination.