Vijayawada, Sept 4 (KNN) The Andhra Pradesh government has credited Rs 1,124 crore towards incentives for Micro, Small and Medium Enterprises (MSMEs), textile and spinning mills in the state.

This will benefit a total 97,423 units and over 12 lakh employees.

The textile and spinning mills got Rs 684 crore and MSMEs Rs 440 crore, including rebate on electricity bills payable by them. With this, the expenditure incurred by the government on MSMEs so far amounted to Rs 2,086 crore.

Speaking on the occasion on Friday, Chief Minister Y S Jagan Mohan Reddy, said lending a helping hand to the industry sector, especially MSMEs, will help stabilise the State’s economy, which was hit during the Covid-19 pandemic.

“The government has been implementing a plethora of welfare schemes and development programmes for the last 27 months to ensure the purchasing power of people in the State, particularly of those in the lower level, is increased to sustain the industries,” he added.

The Chief Minister said that 68 major industries had invested Rs 30,175 crore and provided direct employment to 46,199 people since the YSR Congress Party formed the government in 2019. Besides, 62 mega industries were being set up with an employment potential for 76,916 people.

He also pointed out that in order to generate additional employment, the government had already brought the AP Employment of Local Candidates in Industries/Factories Act, 2019.

He said that emphasis had been laid on Electronics Manufacturing Clusters (EMCs). One such major EMC was coming up at Kopparthi in Kadapa district at a cost of Rs 730.50 crore, wherein investments amounting to Rs 10,000 crore were targeted to be attracted.

''Similarly, YSR Jagananna Mega Industrial Hub is being established in 3,155 acres at Kopparthi in Kadapa district to attract investments of Rs 25,000 crore and generate 75,000 jobs,'' he added.