India, Jan. 7 -- With an eye on expanding semiconductor investments in the state, the Uttar Pradesh cabinet has approved incentives for companies willing to invest INR 3,000 Cr or more.

After the cabinet meeting yesterday, chaired by chief minister Yogi Adityanath, finance minister Suresh Kumar Khanna said that 13 of the 14 proposals placed before the council of ministers were approved.

He said that the incentives, which include interest subsidy, appliance cost reimbursement, relief from net state goods and services tax (SGST) for 10 years, 100% EPF reimbursement (up to INR 2,000 per month) for professionals who are native residents of Uttar Pradesh, subsidy on water charges, and electricity bill reimbursement of up to INR 2 per unit fo...