LUCKNOW Uttar Pradesh cabinet on Tuesday gave a nod to proposals benefitting the common man and big industries while approving the policy for incentives to attract foreign direct investment (FDI), Fortune-500 companies and reimbursing benefits to Samsung India and LG India. It also decided to give two free LPG cylinders to PM Ujjwala Yojana beneficiaries.
Chief minister Yogi Adityanath presided over the meeting of the state cabinet that approved the policy for FDI and Fortune-500 companies, providing rebate of 75% to 80% in land rates to eligible companies.
To attract these companies, the policy provides for capital subsidy of up to ₹100 crore per annum to be given in seven annual instalments and 100% reimbursement of SGST, said finance minister Suresh Khanna.
