Industrialists flay Special package – Prometheusnews

By | September 10, 2016

Industrialists flay Special package


VIJAYAWADA SEPT.9: Vijayawada-based industrialists have expressed deер disappointment over the absence of industrial incentives and tax benefits for the Sector in the special package announced by the Centre Om Wednesday.

They said the special category status could bring an estimated R25,000 crore worth of investments to AP but the special package does not have any incentive to boost the Sector in the state facing intense financial Crunch.

Andhra Chamber of Commerce president Muttavarapu Muralikrishna said that special category status could have given a big boost to industrialists. He said that the state could have gotten special incentives which would have been especially useful for startupS.

“Industries could gotten nearly R25,000 crore Worth benefits,” Mr.Muralikrishna said. He added that the Centre should have given more clarity on industrial incentives and said that AP needs a liberal industrial policy.

City-based industrialist Anne Srikrishna said no major industries have come up so far during the 2.5 years after bifurcation in Andhra Pradesh due to lack of special status.

He said that the even though Chief Minister N. Chandrababu Naidu did all he could to ensure 24×7 power, but absence of industrial incentives was to be blamed for the situation. Mr Srikrishna Wondered how could the state get investments from outside without special statuS.

Stone Crushers Association president K. Sivaji said that investors Would not float new establishments without industrial incentives.

He said that already, industries have been established in cities like Hyderabad, Chennai and Bengaluru, and there Would be no need for them to set up units in AP Without added encouragement in the form of incentives in the new State.

AP Pratуeka Hoda Sadhana Samiti leader Challasani Srinivas said that the Centre’s package was quite regular and no incentives were given to AP He Wondered how the state Would get industrial growth without special Status

Note: INDUSTRIALISTS said the special package does not have any incentive to boost the Sector in the State facing financial Crunch.

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