As promised, TS accords permissions for industries within 15 days, but global conditions a dampener
Telangana IT minister K.T. Rama Rao
Hyderabad: Barely five months of the launch of its new industrial policy in June 2015, the TS government is set to hit the century mark in according industrial approvals. However, execution of projects remains a concern.
In line with its policy of giving industrial approvals within 15 days through an online single window system, the government is sticking to the deadlines it set for itself. However, execution of projects is expected to take at least two years with companies moving at their own pace, on the ground.
The government is yet to set up a monitoring mechanism to assess the progress of projects that are being approved. According to industry department officials, most of the companies say that they are facing difficulties in mobilising funds from banks and other financial institutions to start operations at the earliest, due to “not-so-encouraging factors” both locally and globally, with weak financial markets.
The companies brought to the notice of the government that there was a liquidity problem in the local markets due to drought and unfavourable weather conditions during the last two years and adverse economic conditions in global markets.
“As many as 52 industries have been issued permits within five months of launch of the new industrial policy in June 2014. The total investments promised by investors in these 52 units amount to Rs 3,634 crore besides providing employment to 11,626 people,” said an official of industries department.
The government has lined up approvals for another 17 industries this month, which proposed to invest Rs 1,050 crore and give employment to 2,020 people, which will take the total industrial approvals to 69. In December, another set of approvals for about 35 industries are in the pipeline, with which the approvals will cross 100-mark.
“These numbers look quite encouraging, but what matters the most is how many of them started operations and provided employment. Based on the feedback we got, it may take at least two to three years for most of the industries to become operational,” the official added.
Telangana to get Rs 10Lakh-crore in investments: KTR
IT minister K.T. Rama Rao on Wednesday said TS was poised to get Rs 10 lakh crore in investments in the next four years. Participating in the 2nd Annual Corporate Social Responsibility Summit at HICC, Gachibowli, Mr Rao said that the TS government was upgrading the industrial and social infrastructure in the state to meet the future demands.
He said TS was making rapid strides in industrial and social sectors. “Though TS is the youngest state in India, formed only 17 months ago, it has taken rapid strides in industrial and social sectors. A lot of companies from across the globe are keen to invest in this happening city of Hyderabad, besides other districts in TS,” Mr Rao said.
Download the all new Deccan Chronicle app for Android and iOS to stay up-to-date with latest headlines and news stories in politics, entertainment, sports, technology, business and much more from India and around the world.
( Source : deccan chronicle )
Next Story
