FTAPCCI seeks more funds

FTAPCCI seeks more funds
Highlights

Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry (FTAPCCI) on Monday appreciated Telangana government for coming out with a historic budget which allocated more for plan expenditure than for non-plan expenditure.

Hyderabad: Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry (FTAPCCI) on Monday appreciated Telangana government for coming out with a historic budget which allocated more for plan expenditure than for non-plan expenditure.

The industry body however expressed its disappointment over lower allocation for industrial sector. “We are disappointed that industries and commerce is allocated only Rs 967 crore for 2016-17.

We were expecting that the government would allocate more than Rs 1,200 crore to streamline the incentives and subsidies. We request the government to allocate another Rs 500 crore in the interim appraisal,” V Anil Reddy, President, FTAPCCI, said.

He also expressed concern over increasing revenues from taxes on sales and trade to Rs 42,073 crore, representing an increase of Rs 9,500 crore from last fiscal.“Common man may have to pay more taxes to realise such an increase,” he pointed out.

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