Union Finance Minister Arun Jaitley the other day proudly announced in the Parliament that center had declared incentives like 15 percent additional depreciation for the first year and 15% investment allowance (in new plant and machinery) in any of the five years for both the Telugu States.
However, Chief Minister Chandrababu Naidu exposed the hollow claims in his press meet the other day. Naidu went on to say not a single investor had claimed these incentives in the last two years, exposing how useless they are. The state government is demanding Investment subsidy, Land Subsidy, Central Excise incentives, Customs incentives since long.
But the center as always is silent. Earlier Himachal Pradesh and Uttarakhand have got such incentives from the Center and both the states got benefited immensely. Center claims that Andhra Pradesh is special to them and with this kind of things, they want people to believe that!
