Vijayawada : Andhra Pradesh Chambers of Commerce and Industry Federation (AP Chambers) president Potluri Bhaskara Rao said that it is a progressive budget. As the overall consumption has fallen, the Union government has taken measures to boost the consumption. The government has focused on 5 to 6 sectors to drive the economy. Welcoming the new Income Tax slabs and IT exemption up to Rs 12 lakh, which was not expected, he opined that this will ease the burden on the middle-class and put more money in the hands of the middle class improving consumption.

However, he regretted that there were no special announcements for Andhra Pradesh. Special allocation for the construction of Greenfield capital city of Amaravati is very much needed. Andhra Pradesh is in second place in food processing.

The Chambers has been asking the Union government to set up a national institute such as Central Food Technological Research Institute (CFTRI) in Andhra Pradesh to support the Food Processing sector. Similarly, the Chambers has been requesting the government to set up Coconut, Banana and Mango Boards in Andhra Pradesh. It is a bit disappointing.

AP Hotels Association president R V Swamy said that the finance minister announced that top 50 tourism destination sites will be developed in partnership with states to boost tourism across India. Mudra loans were announced for Homestay businesses to encourage local tourism.

Bayana Venkat Rao, honorary president of AP MSME Association said that one of the main focus areas of the Budget was supporting MSMEs and promoting exports. He appreciated that credit guarantee cover for MSMEs was increased from Rs 10 crore to Rs 20 crore for start-ups.

All India Chilli Exporters Association president V Sambasiva Rao, A R K Chowdhary, director of Kusalava International, Nitta Ravi Kishore, chairman of ICAI Vijayawada, AP Chambers Treasurer S Akkaiah Naidu also spoke.