ADVERTISEMENT

Mixed reactions from AP Inc

Mixed reactions from AP Inc
Highlights

CII AP welcomes Budget proposals; Fapcci disappointed Hyderabad: The State Budget for the fiscal 2013-14 presented by Finance Minister Anam...

CII AP welcomes Budget proposals; Fapcci disappointed cii1Hyderabad: The State Budget for the fiscal 2013-14 presented by Finance Minister Anam Ramanarayana Reddy on Monday evoked mixed reactions from the industrial community with CII AP describing it as a growth-oriented exercise. In stark contrast, Fapcci and other local industry bodies said they were disappointed. "Budget 2013-14 proposals will revive growth in rural economy. The measures initiated for generating 2200 MW additional power in the coming year will certainly reduce the power cuts for industry," said Ashok Reddy, Chairman, CII Andhra Pradesh. The 10 per cent increase in plan expenditure at `59, 422 crore will spur growth, he added. Reddy further said the government's move to encourage solar pump sets for agriculture purpose would reduce dependence of farmers on grid power. "Establishment of two training centers at Tirupati and Zaheerabad for the meeting the needs of hotel industry is in line with CII objective of promoting skill development in the State," he maintained.
cii2
The separate policy statement on agriculture sector also drew his appreciation. "Establishment of 39 warehouses across the State will reduce the wastage of agriculture produce while setting up of food processing units will add value to various food products and help farmers get remunerative prices," Reddy explained. Pointing out that the Budget fell short of industry expectations, Federation of Andhra Pradesh Chambers of Commerce and Industry (Fapcci) found fault with the government for allocating just `250 crore for industrial sector. "Industry expected a major push for its growth in the budgetary allocations. There is a huge backlog of incentives to be paid and the current allocation is not sufficient to clear old dues," Devendra Surana, Fapcci president, said in a release.
cii3
He also stated that budgetary allocation for power sector was very low. "The entire cost of subsidized power which will increase to `14,000 crore next fiscal should come from the budget," he said. Federation of Small and Medium Enterprises of Andhra Pradesh (FSMEAP) is also not happy with the budget proposals for the industrial sector. "The allocation for MSME sector in the current budget is the same as the last fiscal. This amount is grossly inadequate," A P K Reddy, President, FSMEAP, said.
Show Full Article
Download The Hans India Android App or iOS App for the Latest update on your phone.
Subscribed Failed...
Subscribed Successfully...
More Stories
Top