Vijayawada: AP Chambers has submitted an agent to Arvind Panagariya, Chairman of the 16th Finance Committee, seeking to support the development of the industry and the economic progress of the state. Its staff met with Panagariya at a meeting organized by the trade association.
Chambers President Potluri Bhaskara Rao urged the Financial Commission to increase the proportion of central tax revenues in tax decentralization to states like Andhra Pradesh, which are industrially backward and economically weak.
The Chamber recommends that the Alliance Government expand tax exemptions such as CGST and provide additional infrastructure development grants to seven lagging areas, as stated in the AP Reorganization Act.
He also asked the football club to designate a percentage of the additional tax authority as the development of the AP’s industrial infrastructure and freely grant funds to establish MSME parks in all gathering constituencies envisioned by the state government.
Bhaskar Rao said Andhra Pradesh is primarily an agriculture-based state, but there are no central research institutions such as CFTRI, NIFTEM, etc. that can support the industry to provide new technologies for locally available goods. He seeks funding for the establishment of such an institution/campus at the Associated Press.
He noted that the Associated Press is the main producer of mango, banana and palm oil. There are requirements for the establishment of mango, banana and palm plates in the AP and the funding of the Finance Committee is required to establish these boards.
He said Andhra Pradesh provides good connectivity to the states through ports, with great potential to have a gateway to Southeast Asia. He urged the FC to allocate funds to develop integrated connectivity between ports, industrial corridors, logistics centers, and roads, railways and ports to help the state become a gateway to Southeast Asia.
Similar to the MNREGA program, AP Chambers asked the Finance Committee to consider another such program to enable the micro and small industries operating in rural areas to provide unskilled and semi-skilled labor to promote the rural economy.
