Hyderabad: The tax cut by Telangana is seen as an attempt to attract manufacturing units that use raw materials available in the state such as cotton, etc.
Mr Rao also said that his government intended to develop Warangal as another Tirupur (a major textile hub in Tamil Nadu) by cashing in on the cotton farming in the state.
The government has already decided to slash tax on aviation turbine fuel to further increase Hyderabad’s air connectivity, which has eme-rged a crucial factor in attracting companies in the service sector. Hyderabad, meanwhile, will get a new pharma city.
Responding to pleas for help from the pharma sector in the wake of rising costs for complying with green laws and alleged harassment by the Pollution Control Board, Mr Rao proposed to build a new pharma city with world-class amenities such as common effl-uent treatment pla-nts. “Pollution control is very important for the survival of any society. However, it is also important to retain and encourage the pharma industry, wherein Telangana is the leader. So it would be appropriate to ha-ve world-class treatment plants such as in Europe. If the industry wants, the government will allot land at Kazipally-Bol-larum and all existing pharma plants in and around Hyder-abad should be shifted to the new cluster,” he said.
The pharma city could come up on 1,000 to 2,000 acre at Kajipally and Bola-ram that abuts the Outer Ring Road, north of Hyderabad. Other newly set up manufacturing units would also be encouraged to come up along the ORR, said Mr Rao.
The CM also floored MSMEs by waiving Rs 50 crore worth penalties levied on them for overdrawing power and also promised to released Rs 800 crore subsidies pending since last year in a phased manner.
