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Nirmala Sitaraman assured of tax exemption: KTR

Mon, Jun 27, 2016, 07:28 PM
Hyderabad, June 27: The Centre has promised to release Rs 200 crore towards first phase of funds for proposed Pharma City in Telangana state besides asking to focus on bio-pharma industry and assured to look into offer financial tax exemption to boost productivity and economy.

This was stated by IT and Industries Minister KT Rama Rao to media persons in Delhi after a meeting with Union Commerce Minister Nirmala Sitaraman. KTR who is on a whirl-wind tour at the national capital, is busy meeting several Central ministers seeking their cooperation and assistance and also funding for various schemes being taken up in the state.

When we sought Rs 1500 crore for the pharma city, the union minister assured to give Rs 200 crore towards first phase of funds, he said. I also apprised Nirmala Sitaraman of the Center’s assurance of giving tax exemption and financial incentives to the two Telugu States, he said. With this, the pharma city will take a leap in the annals of the Telangana which has allotted about 1100 acres for Pharma city coming up in Ranga Reddy and Mahabubnagar districts.

The Union Minister, he said, has made it clear that the issue of tax exemption to the state is under consideration besides asking us to focus on promoting bio-pharma in the state. Certainly we will focus on bio-pharma industry as well as Pharma city simultaneously, he stated. On behalf of Telangana Government, we sought dry port for the state which sans the coastal zone, funds for construction of Hyderabad Trade Centre and sanction of two special economic zones for production of multiple products, he said.

KTR also said that he sought a leather project to the state, separate commissioner in Hyderabad for SEZ in Telangana instead of one official for the two Telugu states. He expressed hope that the Centre, which gave assurance to all the contents of his wish-list, will extend complete cooperation in future for the state development.

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