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Budget better than expected, says CII
CII State Chairman D Ramakrishna and members addressing a press conference on Union Budget 2021 in Vijayawada on Monday
Says the budgetary allocations to various sectors and proposed investments are useful for stirring up the growth engine of the economy
Vijayawada: The Andhra Pradesh chapter of Confederation of Indian Industry (CII) expressed satisfaction over the budget and described it as better than expected.
After Union Finance Minister Nirmala Sitharaman presented the budget in Parliament on Monday, the State CII which met here with Dasari Ramakrishna, chairman of the State chapter, told newsmen that the budgetary allocations to various sectors and proposed investments are useful for stirring up the growth engine of the economy.
Dasari Ramakrishna, Chairman Managing Director of Efftronics pointed out that the budget stressed more on wellbeing and the investment is more on infrastructure. The Union Finance Minister identified 13 sectors to achieve overall growth.
However, allocation to the education sector was disappointing since it is the need of the hour, he said.
He hailed the proposed steps for the ease of doing business since it is encouraging for the growth of industry. Referring to no change in the taxation, he said that the budget maintained status quo in it. The budget also stressed on new train routes between Kharagpur and Vijayawada, and Itarsi and Vijayawada which would surely help transportation of agriculture produce and others.
Velagapudi Venkateswara Rao, chairman of Vijayawada zone of the CII, described it as a constructive budget. He pointed out that the budget continued to mention Swachh Bharat. "Keeping in view the pandemic situation, this is one of the best budgets," he said.
G Venkateswara Rao, KCP general manager, said that it was a development-oriented budget. Proposal to establish textile parks is good for the State.
Dr M Lakshmiprasad, chairman of water taskforce of the CII, said that the budget allocated massive investments in infrastructure and allocation for healthcare is also very good. He said that the proposal to invest Rs 50,000 crore in the next five years on health infrastructure is a welcome measure.
V Nagalakshmi, ex chairperson of CII-IWN-AP, said that it is good there was more focus on vaccine and healthsector will be given a good boost.
YV Krishna Mohan, M Venugopal, Captain V Krishna, Tarun Kakani and others also spoke.
