Visakhapatnam, Jan 28 (KNN) Commerce and Industry Minister Nirmala Sitharaman on Friday said the government is committed to systemic reforms, however it is painful in the short run.

She was addressing an event in the city.

Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry (FTAPCCI) supporting the statements of Commerce Minister, told KNN that state government has to look for the lagging points in the development of the industries.

“State Government should relook the measure, as there is obstructions in the way of implementing the schemes at ground level”, said Anil Vennam, President, FTAPCCI.

Stressing over the condition of the small-scale industries (SSI) in the state, he said that it is the small sector that has to bear the problems mostly.

“The problems of large scale industries are sort out at priority level but there is no hearing for the SSIs”, added Anil Vennam.

Nirmala Sitharaman emphasized that systemic changes have to be brought in for the rapid growth.

Citing some of the example of systemic changes carried out by the government, Sitharaman said banking sector reforms, simplifying taxation structure and the proposed roll out of Goods and Services Tax (GST).

She further said that the government would undertake more systemic reforms so that the tax GDP ratio improves.

Citing competitive advantages that Andhra Pradesh posses, she said it is a good place for investments.

Although speculating the concern over global economy, she said, it still going through slowdown phase but started picking up now. (KNN)