APCCIF asks govt to hike grants

Vijayawada: The Andhra Pradesh Chamber of Commerce and Industry Federation (APCCIF) has requested the government to increase grants to industry and tourism sectors for the development of industries in the State.

APCCIF president Muthavarapu Muralikrishna, General Secretary Potluri Bhaskara Rao and other members met Finance Minister Yanamala Ramakrishnudu at the Secretariat on Tuesday and submitted a representation seeking the help of the Government to develop the industry and tourism sectors and allocate more funds in the financial year 2017-18.

For the first time, the Andhra Pradesh Government had invited the trade body for the talks before the release of the State budget.

The ACCI president M Muralikrishna briefing media at the Chamber office on Wednesday said the ACCI had asked the Government to increase the grants to industry from Rs.975 crores in 2016-17 to Rs.2000 crore in 2017-18 and enhance the grant to tourism sector from Rs.270 crore to Rs.300 crore.

He said the ACCI had also asked the Government to enhance the grant from Rs.302 crore in 2016-17 to Rs.400 crore to IT sector and from Rs.100 crore to Rs.300 crore for Food processing industry.

He felt the State Government has to enhance the subsidies and grants to face the competition from other states. Muralikrishna said the trade body asked the Government to reduce the taxes on diesel sale and give concessions to promote industry particularly the Food processing industry.