A disappointing budget: Industrialists in A.P.

February 28, 2015 05:43 pm | Updated September 02, 2016 12:04 pm IST - VIJAYAWADA:

Union Budget presented in Parliament on Saturday has disappointed the industry in Andhra Pradesh. The people pinned a lot of hopes on the Budget and expected that the Centre would make an announcement on special status for Andhra Pradesh.

The Government, however, dashed their hopes, said industry captains. The Confederation of Indian Industry (CII) Andhra Pradesh chapter organised a live tele-viewing of budget session here.

Later, interacting with mediapersons, CII members and experts of various sectors said, “The budget is disappointing though overall budget is positive. The government skipped on assurance given to people on special status.”

CII A.P. Chairman Suresh Rayudu Chitturi said: “It is unfair. The industry has been waiting for the special status and incentives. The State government has also put its industrial policy on hold expecting special status. Major firms have been opting for north-eastern states in view of delay.”

CII Vijayawada Zone past Chairman Y. V. Krishna Mohan said the budget did not match expectations. The industry would have got some incentives for MSMEs if special status was announced, he said.

CII former Chairman Y. Harischandra Prasad said people were anticipating that the Centre would make a substantial provision to fulfil the provisions of the Reorganisation Act. Hopes are high on substantial budgetary provision for new capital, revenue deficit compensation. The deficit would be around Rs. 16,000 crore. The Centre, however, did not touch upon these crucial issues, he said.

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