In the Telangana budget 2021-22 a proposal of ₹ 2,500 crore has been made for industrial incentives, an announcement welcomed by industry bodies as they have been impacting the government for some time, who have removed the pending dues to entrepreneurs. .
Finance Minister Harish Rao said in a speech that an amount of ₹ 2,500 crore is being proposed in the budget for industrial promotion. He said that the budget estimate for the industrial sector is ₹ 3,077 crore.
He said that the credit for how industries in Telangana are growing at a fast pace goes to TS-IPSAS or the system launched six years ago by the state government to get time-bound approvals for new projects.
TS-iPASS has accelerated the process of obtaining approvals for industries through a single window system. It has attracted international attention. He said the rapid issuance of all clearances for industries through investor-friendly policies placed the state at number three in the Ease of Doing Business (EODB) rankings.
Incorporating the budget as a people-centric, pragmatic and bold budget, Federation of Telangana Chambers of Commerce and Industry (FTCCI) President Ramkant Inani said that the proposed dues for industrial incentives are pending pending if the earnest money is implemented. One part of the amount is enough to clear.
“We applaud the government for allocating ₹ 2,500 crore for industrial incentives on repeated requests from FTCCI and other industry chambers,” he said in a statement that ₹ 25,000 crore for agriculture and irrigation and ₹ 16,900 crore for allocation The budget for the sector was also reiterated respectively.
He said that the proposal for construction of the airstrip in Tier II cities and allocation of Rs 100 crore is a welcome measure for regional development. However, given the power consumption by uninterrupted, free power supply to irrigation projects and farmers, other concessional categories, the allocation of ₹ 11,046 crore may not be sufficient and is bound to slow down the development of infrastructure in the power sector.
Describing it as a visionary and development-oriented budget, CII Telangana Chairman Sameer Goel said that the allocation for industrial incentives as well as the sector could help provide impetus to the industry in Telangana which was affected by the epidemic.
The budget reflects the vision and commitment of the state government to develop key sectors like agriculture, industry and services in the state. The tourism industry, which was one of the worst affected areas due to Kovid-19, stood to benefit from the allocation of ₹ 726 crore to the tourism and culture sector, he said.
Prakash Ammanabolu, president of the Telangana State Federation of Chambers of Commerce and Trade, said traders were eager for the financial package or the amnesty of municipal tax as their business was majorly affected as a result of the epidemic.
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