Vijayawada: Industrial Policy not for weaker sections says APCC president S Sailajanath

Vijayawada: Andhra Pradesh Congress Committee (APCC) came down heavily on the New Industrial Policy announced by the YSRCP government stating that it was not at all helpful to the downtrodden sections of the society.

APCC president S Sailajanath said in a statement here on Tuesday that the Jagan government which came to power with the support of SC, ST and BC communities did nothing for their welfare. Moreover, the new policy cuts down the concessions enjoyed by them all these years.

The new policy which claims to giving priority to issues like employment, equal development of all regions, environment-friendly, competing with the national average development would actually result in loss of jobs, lifting of employment dole, regional difference in the name of decentralisation.

Moreover, there was no incentive in the policy for 75 per cent jobs for local people.

Successive governments used to give 50 per cent subsidy on the land costs to the SC,ST, BC and minorities if they start industries but there is no such subsidy in the new policy, he said.

The new policy had also cut down the investment incentives from 35 per cent to 15 per cent and the 45 per cent subsidy for women entrepreneurs was reduced to 35 per cent that too would be given after three years. "The incentives are necessary for the industry in the early years not in the later years," he pointed out.