Vizianagaram : Minister for MSME and NRI affairs Kondapalli Srinivas expressed his happiness over the Union budget which was presented on Saturday to parliament. He said that the budget would definitely act as fuel to the engine of industrial growth and development.

He said that the budget has surely accelerate the growth of the MSME sector. In a statement on Saturday, Srinivas said that the budget has given importance to Vizag steel plant, Polavaram and especially for micro, small medium entrepreneurs.

A proposal to pump Rs 1.5 lakh crore to MSME sector will be a boost for that sector. Initiating the plan of action to support the start-ups in 27 sectors is a good help for them. Creating a fund with Rs 10,000 crore for MSME is a good decision.

Providing loans up to Rs 10 crore and giving credit guarantee is also a great support for this sector.

Encouraging the toy making units will help us to promote cottage industries which will provide huge employees, the minister said.

“ Finance minister Nirmala Sitharaman, while presenting the budget, reciting the lines ‘Desamante matti Kadoyi… Desamante Manushuloy’ by the great poet Gurajada Apparao belonging to our Vizianagaram district. These lines were written by the great social reformer long back but they still are relevant to the present society. We are proud of the great laurate,” he said.