T-Government approves new Industrial Policy

Telangana CM KCR, who has been promising to present the best industrial policy ever has kept his promise. His government has presented its industrial policy today in the state Assembly. It’s motto is: ‘Research to Innovation; Innovation to Industry; Industry to Prosperity.’

Zero tolerance to corruption and zero graft will be ensured at each and every step of industrial development process. Concerned department heads will be made accountable any corruption or delays in clearing the files. It targets a growth rate of 4-5 percent greater than the national growth rate.

The government has created Research and Innovation Circle of Hyderabad (RICH) to encourage the entrepreneurs to invest, research, invent and market their products. RICH would provide Rs.100 crores and entrepreneurs also have to contribute equal amount for this purpose.

As if taken inspiration from Prime Minister Narendra Modi, CM KCR also owed to scrap the outdated laws that were creating hurdles in rapid industrial development. CM KCR also owes to modify the existing tax structure to prevent evasion of taxes and additional burden on the entrepreneurs.

Small and medium scale industries will get exemption from paying stamp duties, rebate on land cost, land conversion, power tariff etc. Mega Project status will be given to those industries that invest Rs.200 crores and employ 1000 people. They will be given tailor made incentives etc. under Telangana State Industrial Development and Entrepreneur Advancement (T-IDEA) incentive scheme.

An online help desk grievance redressal system will be set-up to ensure timely help to entrepreneurs and to lodge any complaints about corrupt practices.

Bulk drugs and formulations, IT hardware, precision engineering, food processing, automobiles, textiles and apparel, plastics, gems and jewellery industries are specifically ear marked for special attention by the state government.

Telangana state Assembly also passed another bill: the Telangana State Industrial Project Approval and Self-certification System (TS-iPASS) that would be a "single window without grills" for clearing all investment proposals.