Investors banned for Stimulus Package

Industrialists and IT entrepreneurs expected so much in the form of a stimulus
package with the cut in a corporate tax in the Union Budget for 2018-19. They
are viewing several major announcements for investments job creation, revival
and will give a fresh result to agricultural growth and be strengthening the start-
up an ecosystem.
AP Chambers of Commerce and Industry Federation president G. Sambasiva
Rao told in an interview that after demonetization and GST, the Centre will also
impress upon the States to promote its decision to accord infrastructure status to
the logistics sector. He sought corporate tax slashed from 35 to 20%.
M.Nagaraja, the CEO of Atchutapuram Industries Association exclaimed that a
redressal mechanism should be announced to address the issues faced by the
Special Economic Zones. The Ex-chairman and Managing Director of Rashtriya
Ispat Nigam Limited Y. Siva Sagar Rao said that the ban regulated on capital
investment by public sector steel manufacturers includes RINL and SAIL in
modernization should be lifted.

RINL that is the corporate entity of Visakhapatnam Steel Plant, has already
completed 7.3 million tonnes expansion with an investment of Rs. 16,300 crore,
“With a large land bank, it stills possess the potential to enhance the capacity to
16 million tonnes”, he said, increasing only further ability addition by SAIL and
RINL would get India’s target of 300 million tonne production ability envisaged
in National Steel Policy by 2030.
Mr. Naresh Kumar also cut in the cost of computers by decreasing taxes,
reduction in GST rates for IT industry.

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