New IT policy gets Cabinet nod, private investors to be encouraged to build IT cities and parks

Lucknow: The Uttar Pradesh Cabinet on Wednesday gave its approval for the New IT policy, under which, a target has been set to build an IT city in every region (Purvanchal, Paschimanchal, Madhyanchal and Bundelkhand) and an IT park in every division. To encourage private investors for setting up IT Parks, a subsidy of 25 percent or up to Rs 20 crore will also be provided.

In addition, up to 100 percent exemption will be provided in stamp duty. Similarly, the state government will provide subsidy of 25 percent or up to Rs 100 crore on developing IT city.

Exemption will be given on providing employment to youth

Private IT companies will be encouraged to provide employment to the youth of Uttar Pradesh. In case a company gives preference in employing the youth of UP, then a provision for recruitment assistance has been made for it. If any organisation is giving employment to at least 30 such youths who are from UP, then the government will provide single-time recruitment assistance of Rs 20,000 per student per year.

Apart from this, the government will also help students or employees to enhance their skills in the field of emerging technology. For online or offline studies in selected courses and institutions for skill development, the government will bear 50 percent of the course fees, or up to a maximum of Rs 50,000.

Moreover, exemption will also be provided to the IT units employing women, SC-ST students, transgenders and specially-abled people. As per the policy, such units will get the facility of EPF reimbursement. This includes new units as well as units undergoing expansion.

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