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Andhra Pradesh Budget focused on inclusive approach: CII
Says the government's social spending will create demand for goods and services in the market
Hyderabad: Hailing the Andhra Pradesh's annual Budget presented on Tuesday, industry body CII Andhra Pradesh said that the Budget focused on inclusive approach to ensure people at the bottom of the pyramid benefit by direct transfers. "The investment in infrastructure produces positive economic externalities to growth. The government's social spending would create demand for goods and services in the market," D Ramakrishna, Chairman, CII Andhra Pradesh.
In fact, the thrust being given to build a comprehensive and enhanced social security cover for the poor and the needy through multiple interventions under the Navratnalu umbrella, is certainly welcome step in the present Covid scenario. Investments planned in education, health, social welfare and economic development holds the key to ensuring rapid and quality development of human resources in the State, he added. The government's initiative to undertake the establishment of over 11,000 Dr YSR Health Clinics at the village and ward level is a commendable one in taking public health care services to rural areas, he added.
"The government's approach to business friendly-environment in the State is a welcome step. The Finance Minister recognized the problems of MSMEs and allocated resources to one time restructuring (OTR) of MSME loans scheme under Dr YSR Navodayam scheme, which is focused on creating a new ecosystem for MSMEs," the industry body said. The ReStart package which was announced by the government included release of pending incentives of Rs 904.89 crore to 11,238 MSME manufacturing and allied units in two phases and waiver of fixed demand charges. It will support MSME sector during these difficult times, it added.
