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HCL to Set Foot In Amaravati, likely to invest Rs 500 Cr

HCL amaravati

If the Sources are to be believed, soon unemployed youth in and around Vijayawada will get some job opportunities in IT sector. The buzz is that the Indian Multinational IT company HCL is going to start its office in Amaravati.

According to the reports, the HCL Technologies has decided to invest a wholesome of Rs 500 Cr in the capital of Andhra Pradesh. If it happens, HCL will be the first Software company to enter into the newly divided state.

The Leaks from the CMO stated that “The tech giant has evinced interest to invest Rs 500 crore in launching IT and ITES services from Amaravati. If all goes as per plans, HCL will begin its full-scale operations by October 2018,” the communication from CMO read. About 5,000 jobs will be created with the entry of HCL.

India’s First Riverfront Global Music, Dance Festival to be hosted in Amaravati

However, the investment in the capital region would be carried out in two phases. Regarding this Andhra Pradesh Chief Minister Chandrababu Naidu also had a review meet with State Investment Promotion Board (SIPB)

An official from Cheif Minister Office (CMO) also stated that HCL is also in a thought of setting up a training institute for offering quality training to their trainee employees.

Close Sources says that Officials from HCL has visited some places in and around Vijayawada for establishing their administrative office. Advisor to the AP government Vemuru Ravi Kiran had accompanied the delegates of HCL.

AP CM Chandrababu Announced Rs 100 Crore Reward for anyone who Wins Nobel Prize from Andhra

If HCL stepped into AP, then we might soon see other tech companies entering into Andhra Pradesh. It is rumored that HCL might set up its BPO office in Medha Towers, the IT special economic zone (SEZ) in Gannavaram.

The unemployed youth are protesting against the state and central governments blaming them for partition of the state and demanding special status. If everything goes on good soon, AP youth may get 10,000 jobs related to the IT industry.

100% Penalty For Accepting Cash Over RS 3 Lakh

100% fine on 3lakhs

The Union Budget 2017-2018 had received mixed opinions from the people of India. Someone would say it’s benefiting the middle-class people and some sections are opposing it.

However, among the most discussed things, Govt decision of barring cash transactions above 3 lakh stood in the first place.

Finance minister says that this rule is devised with the intention of making India, a cashless country and also to stop the generation of black money. If anyone breaching the new rule imposed by the govt has to pay 100% penalty.

Union Budget 2017-2018 by Arun Jaitley: Key Points of the Budget

From 1st April those who will accept cash over Rs 3 lakh have to pay 100% percent penalty on the excess amount received.

Revenue Secretary Hasmukh Adhia in an interview explained that “Supposing you do a transaction of Rs 4 lakh in cash, then the penalty would be Rs 4 lakh. If you do a transaction of Rs 50 lakh, the penalty would be Rs 50 lakh.”

He added that ”if someone buys an expensive watch for cash, it is the shopkeeper who will have to pay the tax.

Adhia stated that the primary motive of this provision is to deter people from doing large cash transactions. The government would have an eye on every large transaction done, and respective measures will be taken to curb them from roots.

Union Budget 2017-18: Slab Balances More for Poor

So from 1st of April, this new rule will be in force, and black money holders, others who have unaccounted money will be facing the heat. So no there will be no scope for buying costly and luxury things chance with illegal money.

The previous rule of quoting PAN details for Transactions more than Rs.2 Lakh will also be active.However, the government, any banking company, post office savings bank or co-operative bank will be exempted from these restrictions.

It’s known that the Chief Ministers panel lead by AP CM Chandrababu Naidu recommended a tax on payments of over Rs 50,000. The committee was constituted by the PM said that their proposal would encourage people using digital money rather than physical cash.

AP CM Chandrababu Announced Rs 100 Crore Reward for anyone who Wins Nobel Prize from Andhra

rs.100 crore prize

Nara Chandrababu Naidu, Chief Minister of Andhra Pradesh announced a huge prize money to boost young talent in the state. Babu attended as a chief guest during the inauguration of Indian Children’s Science Congress at Sri Padmavati Women’s University at Tirupati. Speaking in the event, he announced that his government would give prize money of Rs 100 crore to the person who wins Nobel Prize from Andhra Pradesh state.

The announcement is first of its scale for any academic achievement, in a country where cash prizes for sportspersons winning international medals like those in Olympics are not rare. Recently we saw Olympic badminton silver medallist PV Sindhu was showered with cash inducements running into nearly Rs 20 crore by various governments and organizations.

Online Registration and Mobile App for Hajj Yatra Launched by the Government

Naidu announced this bumper offer during the inauguration of Indian Children’s Science Congress at Sri Padmavati Women’s University at Tirupati on the offshoots of 104th Indian Science Congress. Addressing to the young talent, he said, “India has not been able to produce many Nobel Prize winning scientists despite having plentiful talent. Moreover, those who had won the prize had settled in other countries. There is a lot of possibility among the youngsters in the state, and I am sure, if they are heartened, Nobel Prize will come to the feet.”

“In this connection, Chandra Babu made an interesting statement that if any scientist from AP state who will win Nobel Prizes will get a reward of Rs 100 crore as prize money. I would like to tell young and talented scientists to take this opportunity as a challenge and boost. It only depends on your hard work, and I hope you can do it. The prize money is simply to encourage guys, and you can work hard for Nobel prize and bring glory to India and our state,” he added.

Andhra Pradesh Government to Issue Free Mobiles to Economically Backward People

Stating that his government would encourage young talent every time and India needs creative and innovative scientists who are packed with ideas in the science sector. Previously, he placed foundation stone for a Science museum at Alipiri worth Rs 1,500 crore