Hyderabad, Apr 13 (KNN) The Federation of Telangana Chambers of Commerce and Industry (FTCCI) has requested the Telangana government to save the MSME sector by releasing the pending incentives worth Rs 2,500 crore, reported Hyderabad-based newspaper Bizz Buzz.

Anil Agarwal, President of FTCCI, told Bizz Buzz that Telangana government is yet to release incentives worth Rs 2,500 crore to the industries in the State.

He said that over four lakh MSMEs in the state are struggling for existence right from the day Covid-19 pandemic broke out in the country.

Speaking about the major challenges of the MSMEs in the State, he said as many as 53,422 MSMEs are eagerly waiting for the incentives for a long time.

“These enterprises have been facing numerous problems right from the outbreak of pandemic Covid-19. Though we couldn’t control the impact of macro-economic factors, the government can support the MSMEs to create a competitive environment for the industry by providing incentives timely,” he added.

Agarwal pointed out that every year, the Telangana government has been allocating sufficient amounts for industrial promotion policy in the Budget, but not releasing the same to the enterprises.

“The State government had allocated Rs 2,503 crore towards industrial incentives in the last year's Budget, and Rs 2,937 crore during this year's Budget. However, it has released only Rs 600 crore in the month of March, 2023,” he said.  (KNN Bureau)