Trade and industry bodies have hailed Andhra Pradesh budget 2015-16 for its focus on inclusive growth and infrastructure development. The FICCI Telangana and AP State Council chairperson Sangita Reddy said the budget is one step forward in realising an equity-oriented, dynamic and cohesive society.
FICCI, she said in a statement, is hopeful of the budget enhancing the process of building the new State on sound lines and welcomes the focus on inclusive growth.
The budget, according to FTAPCCI (Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry) president Shiv Kumar Rungta, sets the tone for the development process of various sectors. Its emphasis on infrastructure development, particularly development of seaports and airports, will contribute to rapid industrial progress. However, the Rs.4,360 crore allocation to power sector and Rs.637 crore for the industrial sector were insufficient, he said in a release.
In a statement, CII Andhra Pradesh chairman Suresh Rayudu Chitturi said the allocations for commerce and industries were inadequate as large projects such as National Investment and Manufacturing Zones and Visakhapatnam-Chennai Industrial Corridor require huge funds. Mr.Chitturi said while hailing the budget and its mission-mode approach to address issues affecting the development process.
