The proposed AP EDB Act, 2018, expected to be.introduced during the ensuing Budget session of the state.Legislature, would also grant statutory status to the State.Investment Promotion Board and the State Investment Promotion.Committee
Andhra Pradesh cabinet today.approved the enhancement of dearness allowance to government.staff by 2.096 percent, with effect from January 1, 2017
The state cabinet met here under the chairmanship of Chief Minister N Chandrababu Naidu and approved the DA.enhancement in line with the 2015 pay revision commission.recommendations, an official release said
Consequently, the DA would now go up from 22.008 per.cent to 24.104 per cent and cost the exchequer an additional.Rs 838.87 crore per annum, the release said
The revised DA arrears for the period January 2017 to.March 2018 would be credited to the employees' general.provident fund account. It would be paid along with salary.from April 2018, it added
The Cabinet also approved a draft Bill to grant.statutory status to the AP Economic Development Board
The proposed AP EDB Act, 2018, expected to be.introduced during the ensuing Budget session of the state.Legislature, would also grant statutory status to the State.Investment Promotion Board and the State Investment Promotion.Committee
"This move would further propel the Board to work.towards accelerated economic development, provide the.financers and investors with greater confidence and minimise.the chances of any litigation," the official release said
The Cabinet also gave administrative approval for Rs.1,244 crore to entrust the remaining work of concrete laying.and excavation of the Polavaram Irrigation Project to Navayuga.Engineering Company, in place of Transstroy India
Navayuga would also be responsible for operation and.maintenance of the project for three years, the release added
