Telangana Turmoil: Industries incur a loss of 1,000 crore

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Telangana
Hyderabad, Sep 28: Industries incurred a loss of Rs 1,000 crore in the 48 bandh in all parts of Telangana, Telangana Industrialists Federation (TIF) took up the bandh which ended on Tuesday, Sep 27.

Around 10,000 small, large industrialists and 5 lakh employees and workers participated in the 48 hour bandh to support Sakala Janula Samme in Nalgonda, Hyderabad, Ranga Reddy, Medak and Khammam districts.

The TIF members have decided that they wouldn't pay the electricity, VAT and excise bill to state government until the government called-off the Sakala Janula Samme.

TIF members criticized the Federation of Andhra Pradesh Chambers of Commerce and Industry's (FAPCCI) participation in the bandh.

TIF members has been quoted as saying, “FAPPCI is wrongfully propagating that industries are going back from the State, jobs are being lost, industrial growth rate of State has come down, new investments are not coming due the Telangana agitation."

Mr. Sudheer Reddy, president of TIF has been quoted as saying, “It is the wrong policies of State government that is responsible for the industries backing out of Andhra Pradesh than the ongoing Telangana agitation. The FAPCCI should realise this and also speak against the injustice done to the Telangana region."

He added that the Central and State revenue departments could have suffered a loss of Rs 200 crore.

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