VIJAYAWADA: Andhra Pradesh Chambers of Commerce and Industry Federation (AP Chambers) submitted a representation to Arvind Panagariya, Chairman of 16th Finance Commission, at a meeting organised with industry associations in Tirupati on Thursday.
AP Chambers president Potluri Bhaskara Rao participated in the meeting, and interacted with the Finance Commission. He requested the Finance Commission to support the development of the industry and the economic progress of the State.
AP Chambers urged the Finance Commission to increase the proportion of central tax revenues in tax devolution to 50% for states like Andhra Pradesh, which are industrially backward and economically weak.
AP Chambers suggested the Union government to extend tax exemptions like CGST and give additional grants for infrastructure development to the seven backward districts of Andhra Pradesh as promised in the AP Reorganisation Act.
It urged the panel to earmark a certain percentage of additional tax devolution towards industrial infrastructure development in the State.