MSMEs’ Plea To Andhra Govt To Release Long-Pending Incentives

Vijayawada: Andhra Pradesh MSME Industries' Association, while appreciating the introduction of an exclusive policy for MSMEs, has urged the government to release the long pending incentives due to them.

In a representation to MSME Minister Kondapalli Srinivas, association general secretary MS Ramachandra Rao said the newly released industrial policies for various sectors showcase the visionary leadership and commitment of Chief Minister N Chandrababu Naidu for rapid industrialisation in Andhra Pradesh.

These policies reflect the government's dedication to addressing the needs of new entrepreneurs. On behalf of MSME Industries, the association commended the efforts in welcoming new entrepreneurs

However, this is also a crucial time to address the long-standing issues faced by the existing MSME sector. Rao said prioritisation is required to revitalise the sector by releasing the long-pending incentives under the industrial policies, abolishing of Impact tax under GO Nos. 5 and 6, which are hindering industrial development in AP

He sought revision of property tax under a new industrial category, aligning with rural area taxation, as most industrial estates are located in rural areas and requested opening facilitation centres at District Industries Centres (DICs) to support MSMEs in addressing various challenges, including technology upgradation, skill development, market promotion, and digitalisation, thereby enabling them to grow and thrive.

The association urged the Minister to expedite the distribution of flood relief assistance and facilitate the rescheduling of bank loans for affected industries.