Cabinet approves new LIFT policy to attract top-tier IT/ITeS firms, GCCs
Disclosing the details, I&PR Minister Kolusu Parthasaradhi said the Cabinet approved the new LIFT Policy 4.0 (2024–29), offering land at a nominal rate of ₹0.99 per acre to attract top-tier IT/ITeS firms, GCCs, and developers.
Eligibility is strictly limited to Fortune/Forbes-ranked firms, or companies with at least $1billion in annual revenue, or market capitalisation.
Job creation mandates include 3,000 jobs for IT firms and 2,000 for GCCs within three years. Developers must build large-scale office infrastructure and begin construction in six months of land allotment.
In the tourism sector, the Cabinet approved outsourcing of 22 APTDC-run hotels and resorts across six clusters to private operators through a competitive RFP process. The goal is to improve service quality and financial sustainability.
Operators must demonstrate experience managing 3-star or higher properties, and meet strict financial and operational criteria. While 46 permanent employees will remain with APTDC, the rest of the 418 staff will be transferred to new operators. Selected firms will also be responsible for renovating the infrastructure.
The Cabinet cancelled the controversial land allotment to the Oberoi Group in Tirupati, made in 2021. Following public outcry over the project's proximity to the temple town and a formal request from the Tirumala Tirupati Devasthanams (TTD) Board, the government agreed to swap the APTDC land in Peruru with 25 acres of TTD land in Tirupati RS village. The decision underlines the government's commitment to protecting religious sentiments.
In the energy sector, the Cabinet approved three key proposals. A ₹900-crore government guarantee would support the working capital needs of the APPDCL, which is facing liquidity issues due to payment delays from the DISCOMs. The Cabinet approved guarantees worth ₹4,574 crore for RDSS loans to APSPDCL and APCPDCL to ensure uninterrupted execution of smart metering and infrastructure upgrades.
The Cabinet approved the issuance of a preliminary notification to bifurcate Y. Ramavaram mandal in Alluri Sitharama Raju district into Upper Y. Ramavaram and Lower Ramavaram for better administrative efficiency.
The Cabinet approved a proposal to scrap the existing media accreditation guidelines and introduce a new framework, titled 'Comprehensive A.P. Media Accreditation Rules, 2025', the Minister said.
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