Telangana Budget: Industries get a shot in the arm

HYDERABAD: In what can be considered as a breather to the Covid-19 hit industrial sector, Finance Minister T Harish Rao said that the State government has allocated Rs 3,077 crore for the sector. The allocation for promotion of industrial incentives has also been increased to Rs 2,500 crore. Officials said that the figures do not reflect in the Budget document because the decision to increase the allotment of incentives and the total allocation of industrial sector was taken in a Cabinet meeting on Wednesday. 

Harish Rao in his Budget speech said, “The industrial sector is progressing at a faster pace in Telangana State. The TS-iPASS has sped up the process of obtaining clearances for industries through the single window system. This has attracted attention at the international level. The issue of all clearances for industries through investor friendly policies has placed the State in the third place in the Ease of Doing Business (EoDB) rankings.”