Entrepreneurs lack motivation in Karimnagar

Karimnagar: On one hand, the government encourages youth to start new industries with various schemes like Startup India, lucrative credit schemes like MSME (Micro Small and Medium Enterprises) loan scheme etc. At the same time, it discourages the wannabe industrialists by pending the subsidies etc.

A huge amount of about Rs 40.92 crores of Industrial Investment Subsidy of four years is due to the new industrialists in Karimnagar. This resulted in resentment among the youth across the State and the erstwhile Karimnagar district.

Hence the youth in Telangana are deprived of both employment opportunities and provision of facilities for self-employment. The youth in the district, who are interested in starting their own startups, are sceptical in their career path due to various problems faced by entrepreneurs.

Industrial subsidies, pavala vaddi, sales tax, power tariff, stamp duties are some of the few products and production subsidies, which the government has failed to disburse the amount in the last four years. This has turned the emerging industrial units into 'sick units.'

According to sources, among the industries being run by entrepreneurs under general category, 114 units in Karimnagar district has to receive industrial subsidy of Rs 24.61 crores while 97 units of candidates belonging to Scheduled Caste has to receive Rs 14.69 crores and 10 units held by Scheduled Tribes are awaiting to receive Rs 1.62 crores.

Pavala vaddi, which should be disbursed for every 6 months, hasn't released not even once in the last four years. The 474 units of general category entrepreneurs, 32 units of Scheduled Caste entrepreneurs and 25 units of Scheduled Tribe entrepreneurs are anxiously awaiting Rs 14.58 crores; Rs 23 lakhs; and Rs 36 lakhs respectively in Karimnagar.

As many as 552 units held by general category should receive power subsidy of Rs 1 for unit, which has not been disbursed yet. They are waiting for an amount of Rs 14. 35 crores to be disbursed. 25 units has to Rs 74 lakhs under sales tax and GST input tax credit.

When The Hans India contacted the officials, they refused to give the details of investment subsidy, the dues of four years and other details.