Public Accounts Committee (PAC) chairman and YSRCP MLA Buggana Rajendranath Reddy has responded to Chief Minister N. Chandrababu Naidu who questioned the benefits of Special Category Status to the state.
PAC Chairman has released the list of the benefits which are ensuring to the state. He accused Mr. Naidu that he doesn’t seem to know the benefits of the Special State Status despite having great experience in politics in the country. Rajendranath Reddy explained that by would be get the grants 90:10 percentage for states with special status.
Industries get 100 per cent excise duty exemption. In addition, we can also get VAT input credit as well. Which means, on a Rs 100 worth product, Rs 12 worth of central excise duty will be exempted. Equivalent to excise duty, Rs 12 input credit can also be availed. Income tax is also totally exempt for states with special status.
We also get 30 per cent subsidy from the Centre on investments. Reddy further slammed Chandrababu Naidu over his statement that northeastern states did not make any substantial progress because of the special status. Reddy asked whether Chandrababu Naidu knows how horrible weather conditions are in northeastern states. “People in those states are surviving just because of special status only,” said Buggana.