Central Govt to provide assistance to Andhra Pradesh-Telangana for industrial sector: Sitharaman

New Delhi, Aug 2 (KNN) Aiming at helping the industrial growth the State of Andhra Pradesh and Telangana, the government is taking measures to provide financial assistance for the state, Commerce and Industry Minister Nirmala Sitharaman informed Rajya Sabha.

The Minister informed that under section 94 of the Andhra Pradesh Reorganization Act of 2014, the Central government shall be taking the necessary measures for promoting the industrial sector in Andhra Pradesh as well as Telangana.

Under the assistance, the government will be offering fiscal incentives in various forms for both the states.

The Minister added that the Union government channelize several program for the industrially backward regions of the country. Earlier there have been similar industry promotion programs in different states including Himachal Pradesh, Uttarakhand and Jammu & Kashmir.

The Minister further informed that the Andhra Pradesh government has already submitted a proposal demanding an Entrepreneurship facilitation scheme for the state. Responding to which the Minister said that it is under consideration of the central government,

Sitharaman added that the promotion of industrial activity in the backward regions facilitates both employment generation and economic growth, therefore the central government is keen in extending schemes and policies for the same. (KNN/ DA)