Telangana Chief Minister K. Chandrasekhar Rao on Tuesday assured industry associations and entrepreneurs that the State Government would offer the best-ever industrial policy, better than the one being implemented in Singapore, to spur economic growth in the new State.
The government would bring in a new legislation soon to give all clearances except the pollution control nod at one go in 21 days through single window system. “I know that the licence raj has gone only for the namesake. Even today, 25 to 36 permissions have to be taken from different departments for setting up an industry. Even a company making huge investment has to approach a municipal commissioner and this has to change,” the Chief Minister lamented at an interaction session to formulate a new industrial policy.
Stating that linking SMEs and MSMEs, which provide most of the employment, with major industries was necessary to sustain them, the Chief Minister said his government would push for local procurement of ancillary inputs by mega industries while entering into MoUs with them. Further, he assured that the government would create a corpus fund with the contribution from the MSMEs industry for helping revival of such units on the brink of closure for different reasons.
The Chief Minister directed the Industries Department officials to furnish him the sector-wise details of tax exemptions and levying taxes by neighbouring States so that the government could reduce taxes at least by a whisker compared to other States. Further, he offered to waive about Rs. 50 crore penalty imposed by power distribution companies on MSMEs and ginning mills for overdrawal of power. He also promised to clear the subsidy dues of Rs. 800 crore to industries in phases.
Admitting that the State was not in a position to supply round-the-clock power supply to industries, Mr. Rao said the government was confident of easing the situation to some extent by next year. The Chief Minister also announced that ace tennis player Sania Mirza will be the ‘Brand Ambassador’ of Telangana State.
Mr. Rao presented a cheque for Rs. 1 crore to Ms. Sania Mirza after announcing her as the State’s “Brand Ambassador.” of the State.
