AP to take Share in Profits of Private firms!

Andhra Pradesh government has taken crucial decision about the allotment of lands to private firms going further. From now, the government will not sell any land to such firms but will only lease them.

The government will seek 5 to 10% of the profits made by these firms in exchange to the lands. The state government has already started implementing these decisions in the wind and solar power projects and is planning to implement them for other firms also.

The percentage will be decided by NREDAP after assessing the revenues from the project individually. This idea was proposed by Deputy CM KE Krishna Murthy when the file for allotment of government land to wind projects came to him.