Federation of Andhra Pradesh Industries (FAPI) president B.V. Rama Rao on Sunday exuded confidence that the BJP government at the Centre would realise the hopes of the people of the successor State under the stewardship of Narendra Modi.
Mr. Rao, who recently joined the BJP, emphasized need for the release of Rs. 4 lakh crore by the Centre as a grant for the development of industries and infrastructure in the Seemandhra region. He said the FAPI would make a request to the new government at the Centre to extend a tax holiday to industries in the State for a period of 10 years as a special measure to put the State on the growth trajectory.
“It is high time the Centre made special efforts to revive the five gas-based power plants in the State which became defunct for want of power by allocating a substantial portion of gas being explored in the Krishna-Godavari basins for the local industrial need,” he said.
Mr. Rama Rao also called for slashing the rate of interest levied by commercial banks on loans availed by entrepreneurs to 4 per cent as an incentive to promote industrial growth in the new State.
