FSME India for removal of reimbursements

Amaravati: Federation of Small and Medium Enterprises of India (FSME India) urged AP Chief Minister YS Jagan Mohan Reddy to do away with the system of reimbursement of incentives being offered to industries.

"There is an inordinate delay in the payment of industrial incentives due to reimbursement system. Instead, the government should directly pay the incentives to the banks when they sanction the loan. This should applied to incentives for power and on interests. That way, financial burden on industries could be reduced," APK Reddy, national president, FSME India, said while speaking at 'Mana Palana, Mee Suchana' programme chaired by AP CM YS Jagan Mohan Reddy in Amaravati on Thursday.

He also sought special SLBC for industrial sector, industrial clusters for MSME sector, regular update of data related to sick industries, etc.