Industries Minister KT Rama Rao said tax exemption will be given to the units set up under CM ST Entrepreneurship and Innovation Scheme (CMSTEIS). In a congratulatory message to the entrepreneurs who received the sanctioned subsidy, he asked them to not have any doubts on themselves but visit other districts to inspire others.
This scheme was started in 2017. So far 300 ST candidates were trained at the ISB. Of them, 95 candidates were sanctioned assistance of Rs 108.03 crore to set up their units. The proposals of 77 other candidatess were at present awaiting bank assistance. These apart, assistance was being extended to ST MSME units by TRICOR.
Speaking at the CMSTEIS and MSME scheme asset distribution programme on Monday, he reminded that in 2001 when Chief Minister K Chandrashekhar Rao launched the separate state agitation, he had no financial assistance. But with his determination and commitment, the Chief Minister achieved a separate Telangana.
In nine years, Telangana’s per capita income increased from Rs 1.24 lakh to Rs 3.17 lakh and it is ranked number one by the Reserve Bank of India. But no politician from the opposition praises it. Telangana has upgraded 3,146 tribal thandas and gudems into panchayats and all of them have water tankers, trolleys and all other facilities. This is the real power of the ruling party, he said.
“My request to the new entrepreneurs is we must stand as an inspiration to others and employ people from a different community, village and don’t ostracise yourself to particular religion or region. There are people pulling us down but be clever in your work,” he added.
He further asked the entrepreneurs to collaborate with the municipal department and engage with district industrial managers to travel to districts and address the budding entrepreneurs. He also urged them to visit T-Hub, T-Works and We-Hub and explore all opportunities to scale up their business.
The minister also reminded them that the ST Finance Corporation extends loans on subsidy and Industrial Health Clinic will assist sick units through techno-economic viability study.
