Almost rs. 700 crore of incentives are currently pending including all the required taxes in both the states. According to the firm bodies no new industries invested still today.
Nobody can expect the more without the implementation. As the earlier 2010-2015 policy was also good but lack of implementation made the firms to delay investment. Reported by V.Anil Reddy, senior vice president, Federation of AP and TS Chambers of Commerce and Industry.
As per the State Level Committee meeting bifurcated that the incentives are delayed due to industries using technical flaw in the previous policy.
There are these issues which need to be sorted out like pending for the large investments and there is no provision under the policy for direct transfer.
The industrial sector says that they will feel more confident once they see incentives being actually handed over in time. The GO needs to be amended so that the technical flaws are removed and the dues can be given.
Seemandhra the plastic firm owner said that “Mine is a self financed firm and in 2012 we went to expand worth Rs 1 cr but till date I have not received my power subsidy, tax or investment subsidy.
It’s a technical flaw which is coming in way of transferring the incentive.
Also since the amount is Rs 1 crore, it requires inspection. But due to this bifurcation, it is unable to figure out whom to send for inspection