TN sops for small industries hit by power shortage
Chennai: Aiming to provide some relief to small industries affected by the power shortage, Tamil Nadu Chief Minister J Jayalalithaa today announced a series of sops which included waiving VAT on furnace oil used in gensets.
The move came after a delegation of small industry representatives from Coimbatore and others met the Chief Minister here to apprise her of the current situation.
In a statement, Jayalalithaa said she had directed reducing VAT on gensets from the present 14.5 per cent to five per cent, besides extending VAT waiver on furnace oil with retrospective effect from October 1, 2012 to May 31, 2013. She said this would result in a Rs 97 crore loss for government.
Earlier, a similar waiver had been given from February 1, 2012 to September 30, 2012.
Further, the margin money on loans obtained for buying gensets through Tamil Nadu Industrial Investment Corporation has been reduced from 20 per cent to 10 per cent,she said.
"These efforts by my government would help in entrepreneurs generate additional power through gensets and ensure more employment opportunities and production," she said.
More from India
More from World
More from Sports
More from Entertaiment
- Is Akhilesh Yadav overlooking Muslims as Mulayam Singh alleged?
- DNA: Why did Navjot Singh Sidhu call BJP 'Kaikeyi’, Congress ‘Kaushalya’?
- 38-year-old arrested for ‘raping’ minors in Delhi; assaulted over 600 girls
- BJP announces 149 names in first list of candidates for UP elections
- My father wanted me to be a man of character: Navjot Singh Siddhu
- Geeta Phogat comes to rescue of Zaira Wasim; hits out at trolls, asks actress not to apologise
- ‘Dangal’ star Zaira Wasim says I am not a role model, not proud of what I am doing
- Assembly Elections: BJP releases list of 149 candidates for Uttar Pradesh, 64 for Uttarakhand
- Serial child rapist arrested in Delhi, says 'preyed on girls for sexual satisfaction, enjoyed it'
- China's NSG stand is neither fair nor transparent, says Defence Expert