The Telangana government has released ₹300 crore as incentives to micro, small and medium enterprises (MSMEs) and units of SC/ST entrepreneurs, Finance Minister Harish Rao said here on Thursday.
“We have released ₹300 crore for SC/ST (enterprises) and MSMEs yesterday,” he said, seeking to describe it as a support measure for units battling an economic slowdown. “As regards incentives payable to other industries, we will try to release it as early as possible,” he said.
The Minister, who was addressing the 2nd Edition of CFO Conclave organised by CII Telangana, said that Chief Minister K. Chandrasekhar Rao and Industries Minister K.T. Rama Rao were positive about encouraging industries. KTR, he added, was insisting on release of the incentives pending for about one and a half year.
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“In these times, we will try to support industries by releasing the incentives at the earliest,” he said, inviting suggestions from industry on the measures required at the policy level to improve the economy. The suggestions, he added, would be forwarded to the Central government. The role of CFOs, he said, was crucial in the organisation. Though they were viewed with negativity, the professionals ought to remain tough and make the right decision in the interest of the organisation. As Finance Minister, he too faced the challenges of budget allocations for the various government schemes, Mr. Rao said.
On the economic scenario, he said that though the Centre was taking steps to control further slowdown and attract investors, the consumption still seems to be low. The Conclave discussed the current economic scenario, challenges and opportunities, changing regulatory landscape – issues, interpretation and insights on Companies Act and FEMA.