HYDERABAD : The state government will soon unveil a new industrial policy for Telangana. A decision to this effect was taken after the government noticed that the previous BRS regime failed to release incentives to small and medium industries.
Though budgetary provisions were made, the previous BRS regime failed to release Rs 3,736 crore in incentives to the industries. Noting this, the Congress government decided to introduce a new industrial policy that would address all the issues.
After the formation of the state, the BRS government brought Telangana State Industrial Project Approval and Self-Certification System (TS-iPASS) by an Act in 2016. Since then, there have been no changes to the industrial policy.
Sources said that several industries were closed due to the non-payment of incentives. The piled up dues reached Rs 3,736 crore as of May 20.
Of this, Rs 3,007 crore is due to small and medium industries and Rs 728 crore to major and mega industries. Though the BRS government made provisions in the Budget for two years, it did not release the incentives. In fact, cheques were issued, but they lapsed.