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Telangana woos investors with cyclone free tag

Hyderabad,Nov7(TruthDive): Telangana government is using the tag of cyclone free climate to wean away investors, who are interested in doing business in Andhra. Telangana CM who is drafting an industrial policy that is to be presented to the Assembly has told the officials to highlight that the State is cyclone free. It is to show the ravages of the cyclone that hit Vizag, which is considered to be the pearl of Andhra.

Andhra is bracing for another round of a cyclone that is moving towards the State. KCR has adopted the Singapore model of clearing investment proposals as Andhra CM is getting ready to go for canvassing investments from the island nation. Everything is kept under secrecy till the policy is unveiled. A single window clearance done online so that it is transparent and a slew of concessions for those who invest Rs 200 crore and employ 1000 persons. The idea is to give concession in stamp duty; reimburse VAT, subsidized land and 10% water for industrial use.

More sops will be given to industries being setup in districts other than Medak, Hyderabad and Ranga Reddy. SC and ST investors starting micro and small industries will get preferential treatment. The industrial policy is aimed to be more attractive than Andhra, says Telangana CM. The only hitch in the whole scheme is that it cannot offer power 24 x 7. Instead, it plans to subsidize the power bought from private producers.

Telangana government has decided to recover Rs 12 crores from those who ran arrack shops from 1942 to 1949. These people ran arrack shops in erstwhile Nizam rule and had defaulted in paying the taxes. Telangana excise officials have a list of 367 defaulters list. As they went to serve the notice, they found 50% of them have died. Their legal heirs and whereabouts are hard to trace. The rest who are still alive have moved out of the address given in 1942. Most of the defaulters are in Khammam district.