CII, FAPCCI hail allocations made to agriculture, textile and education sectors
Salaried class expectations unaddressedUrban infrastructure, urban public transport not dealt with
HYDERABAD: Members of Andhra Pradesh chapter of Confederation of Indian Industry (CII) gave a mixed reaction to the Union Budget 2007-08.
While they hailed the allocations made to agriculture, textile and education sectors, they termed the budget as disappointing on a few other sectors. The CII organised a tele-viewing of the budget at a star hotel. The Federation of AP Chambers of Commerce and Industry (FAPCCI) also praised the initiatives announced for agriculture community but regretted that the expectations of salaried class were not met.
CII State unit of Chairman G. Vivekanand felt that though the allocation to education sector was welcome, there was no mention about skill development among students.
Vice-chairman of CII Pradeep Dobale felt that there would be pressure on the paper industry following higher allocations to education. The Government should have considered extending the plantation status even to pulpwood. Hailing the increase in farm credits, past chairman of CII-South Anil V. Epur said mango, mosambi and guava should have been accorded plantation status. Though excise duty was cut on bio-diesel, there was no serious thought given on how it could be really utilised. Food processing machinery was exempted from duty, but it has to be seen, how it would work out five years down the line.
Y. Harishchandra Prasad of Malaxmi-NBFA Ventures said the budget did not deal with urban infrastructure and urban public transportation.
Past chairman of CII AP chapter Mahendra K. Patodia welcomed the textile upgradation fund to Rs 900 crores and reduction of import duties on machinery. As a result, exports would go up from US $ 50 million to US $ 100 million.
Senior vice-president of FAPCCI Atluri Subba Rao said the salaried class were expecting a big relief in view of the growing inflation. But, it came as a disappointment to them. Director of audit committee of Bharatiya Reserve Bank Note Mudran T. Narasimha Rao described it as a growth-oriented budget.