Naidu Brings in Progress Card for Investments

Andhra Pradesh government had brought in ‘Progress Card’ system to monitor the implementation of the memoranda of understanding entered with industries in the last 26 months. The state government claims 61% of the MoUs are in various stages of completion including those signed during the Partnership Summit in Vizag.

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This system will help to monitor the position of MOUs and will help to materialize them. The new system divides the projects into ‘red’ and ‘green’ categories, which are again divided into four sub-categories. The ‘green’ category projects are expected to bring in investment of about Rs 34,000 crore.

The ‘red’ ones need the attention of the government as they are the projects that are yet to begin work or prepare the detailed project report. The government is expected to bring in investments worth about Rs 1.27 lakh crore from all projects from both these categories. The government will extend support to all companies that had signed MoUs by providing all facilities and incentives.