Picking holes in the new industrial policy announced by the government recently, TDP leader S.V. Ramana Madiga on Thursday alleged that no provisions were made to extend working capital facility to small and medium entrepreneurs belonging to Backward Classes, Scheduled Castes and others.
Mr. Ramana Madiga, the former Director of Leather Industries Development Corporation of Andhra Pradesh also expressed concern over the reduction in investment subsidy.
Investment subsidy
“Investment subsidy up to ₹75 lakh was being offered during the TDP regime, which has been reduced to ₹50 lakh in the new policy. The power subsidy has also been slashed. These two factors will discourage Dalit and women entrepreneurs,” he claimed.
Further, he alleged that there was no mention of the service sector in the industrial policy. “The government must make the necessary changes in the policy and introduce new incentives for entrepreneurs who are keen on investing in rural and semi urban areas,” observed Mr. Ramana Madiga.
