CBN’s 99 Paise Per Acre Policy For IT Companies Is 100% Right

Chandrababu Naidu administration is trying its level best to develop the IT ecosystem in Visakhapatnam.

The Government has given 21.16 acres to TCS, 21.31 acres to Cognizant, and 20 acres to Infosys at 99 Rupees Per acre.

Together, the three companies are investing ₹3,703 crore and will bring 27,000 jobs. The indirect employment and investments the companies bring cannot be quantified.

However, the Opposition YSR Congress Party makes critical comments about the government’s policy.

Gulte.com’s Journalist Nishant asked Intellectual Jaya Prakash Narayana about it in an interview.

“The strategy is absolutely right. IT is a footloose industry. They can be anywhere. Once upon a time, IT existed only in Mumbai. It came to Bengaluru later and then to Hyderabad. In those days, I, on behalf of the Industrial Infrastructure Corporation, gave four acres almost for free to Wipro. That gave head start for IT in Hyderabad. It is true Wipro benefited, but we should think how much society benefited from that,” JP said.

“We may give them 10 rupees initially, but we get 10 Lakh Rupees later. Investors will come here only if we give exciting incentives. States should compete in giving such incentives and that competitive spirit is very good for the country,” he added.