The state Cabinet on Monday approved the concessional package to the Rs 150-crore (Rs 1,500 million) project of Tata Consultancy Services, which will require manpower of 2,000.
The government will provide a 50 per cent stamp duty rebate on 6.295 acres of land purchased by TCS, said S Chandra Mohan Reddy, the information minister.
TCS would also be exempted from transfer and registration fee and instead of bank guarantee, corporate guarantee was allowed for the company.
A draft ordinance to amend the State Co-operative Societies Act was also approved by the Cabinet, the minister said, while briefing the media on the Cabinet meet held in Hyderabad on Monday.
This amendment would enable the government to declare spinning and sugar mills sick, and widen the act purview to cover all co-operatives including those approved for public sector enterprises reforms.
With this amendment, the implementation secretariat would take up reforms process in the co-operative sector, Reddy added.
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