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PM announces comprehensive tax exemption package for Seemandhra

By TIOL News Service

NEW DELHI, FEB 20, 2014: WHILE talking about the Telangana Bill in the Rajya Sabha today, the Prime Minister, Dr Manmohan Singh, said that the Union Govt is ready to extend a special fiscal package to the New State to put its finances on a firmer footing and ensure rapid industrialisation. The PM offered a tax incentive package along the lines extended to some of other States in the country to under-industralised Seemandhra.

He said, "I have listened very carefully to the views expressed by the Leader of Opposition and all the other members who have spoken, especially those from Andhra Pradesh. The Home Minister has already mentioned the specific steps our Government will take to address the concerns of all regions of the state, particularly of Seemandhra.:

Dr Singh announced that for purposes of Central assistance, Special Category Status will be extended to the successor state of Andhra Pradesh comprising 13 districts, including the four districts of Rayalaseema and the three districts of north coastal Andhra for a period of five years.

He further said that the Bill already provides for a special development package for the backward regions of the successor state of Andhra Pradesh, in particular for the districts of Rayalaseema and North Coastal Andhra Pradesh. This development package will be on the lines of the K-B-K (Koraput-Bolangir-Kalahandi) Special Plan in Odisha and the Bundelkhand special package in Madhya Pradesh and Uttar Pradesh.

The Prime Minister stated, "I would like to reassure Honourable Members that if any further amendments are needed to facilitate smooth and full Rehabilitation & Resettlement(R&R) for the Polavaram project, they will be given effect to at the earliest. Our government will execute the Polavaram project--let there be no doubt about it."

The PM said that the appointed day for the formation of the new State will be so fixed in relation to the notified date so as to enable preparatory work relating to personnel, finance and distribution of assets and liabilities to be completed satisfactorily.

Dr Singh pointed that the resource gap that may arise in the successor state of Andhra Pradesh in the very first year, especially during the period between the appointed day and the acceptance of the 14th Finance Commission recommendations by the Government of India, will be compensated in the Regular Union Budget for 2014-15.


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