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2,000 cr industrial incentives to be released
The state government has decided to release incentives till March 2017, to the tune of around Rs 2,000 crore, to the industrial establishments, particularly new ones, in the state.
Amaravati: The state government has decided to release incentives till March 2017, to the tune of around Rs 2,000 crore, to the industrial establishments, particularly new ones, in the state.
Chief Minister N Chandrababu Naidu on Wednesday directed the officials to release the sanctioned incentives for the industries regarding sales tax reimbursement, electricity, and interest and investment subsidy as soon as possible.
As the department is all set to process the release of incentives, commissioner of industries Siddharth Jain asked the beneficiary entrepreneurs to submit their PAN and Aadhaar details to the industries department website.
He asked the investors to be particular with details and address of the company, as they are necessary to process the claims of incentives. This enables the department to credit the incentives to their respective bank accounts, the commissioner said.
Siddarth Jain also said the great changes were being done in sanctioning the incentives to make the process simple and quick. The industries department is leaving no stone unturned to implement Public Service Delivery Guarantee Act (PSDGA), which mandates the sanction of incentives within 120 days from the date of their claim.
The industries commissioner further assured the entrepreneurs that department was including an option online, which escalates the claim application to the next level authority, if the claim is not sanctioned or decided within the stipulated time period of 120 days.
