No other Chief Minister in the country travelling outside the country so frequently as that of Andhra Pradesh Chief Minister Chandrababu Naidu. During last two and half years, he has travelled more than 30 times to various countries, seeking to attract potential investors for the rapid industrialization of the bifurcated state. However, till now he failed to ensure realisation of any worthy investment proposal.<\/p>\n
Though Andhra Pradesh has been ranked second in the country for it\u2019s `ease of doing business\u2019 policy, the existing entrepreneurs in the state are deploring that they are unable to get even promised incentives. According to Andhra Pradesh Chambers of Commerce and Industry Federation (APCCIF) by the end of December, 2016, about Rs 1,000 crore of arrears pertaining to incentives, are pending for payment in industrial sector alone.<\/p>\n
To attract investments, the Andhra Pradesh government had announced numerous incentives to eligible entrepreneurs as part of different industrial policies. As per norms, these industries are eligible for different incentives like exemption of NALA tax, luxury tax, VAT, power tariff and other incentives to different sectors. But the State government is not releasing the arrears.<\/p>\n
The industrial bodies are seeking substantive and real time assistance, not promises being made for last two years. Over the past few years ,they alleges that the quantum of plan assistance has come down even as the increase in tax devolution to states as per cent of divisible pool has gone up to 42%. Stating mere special assistance may not be sufficient for the state, they are insisting that the assistance for externally aided projects should be remain at 90% as grant.<\/p>\n
Meanwhile, they deplore that besides government states policies, respective departments refusing to follow. For example, the government announced the NALA tax waiver for industries, but the municipal authorities insist for a No Objection Certificate from the revenue officers. Ahead of the AP State Budget 2017-18, the industrial bodies are pleading the state government to enhance budgetary allocation.<\/p>\n","protected":false},"excerpt":{"rendered":"
No other Chief Minister in the country travelling outside the country so frequently as that of Andhra Pradesh Chief Minister Chandrababu Naidu. During last two and half years, he has travelled more than 30 times to various countries, seeking to attract potential investors for the rapid industrialization of the bifurcated state. However, till now he […]<\/p>\n","protected":false},"author":24,"featured_media":91719,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"acf":[],"yoast_head":"\n