Mixed response from traders, industry to TS budget

Addressing power shortage issues can lead to improved revenues, says TiE

It was with cautious optimism that trade and industry leaders, representing various segments, welcomed the Telangana State budget.

TiE Hyderabad (The Indus Entrepreneurs) president Murali Bukkapatnam said the government has tried to address the issue of power shortage. With the measures, industry can look forward to lesser power cuts and consequentially improved revenues, he said in a release.

An allocation of Rs. 90 crore for Hyderabad ITIR, a land bank of five lakh acres for industries and incentives for scheduled caste entrepreneurs were the announcements he hailed, while pointing out how “more incentives for overall start-up ecosystem would have been relatively better.”

Telangana Chambers of Commerce and Industry president M. Venkateshwarlu termed the budget, presented on Wednesday, as encouraging. A review of the Rs. 3,241 crore allocation to the power sector may be required, he said, while describing the measures to promote rooftop solar systems and solar agricultural pump sets as need of the hour. With the government keen on industrialisation on a war footing, the Telangana State Industrial Infrastructure Corporation (agency to handle the land bank) needed more resources. It was also important to revive micro finance companies with incentives, he said.

Social inclusiveness

Chairperson of FICCI (Federation of Indian Chambers of Commerce and Industry) Sangita Reddy said it’s a good budget focussed on social inclusiveness. The Rs. 2,282.86 crore proposed to revive and strengthen public healthcare was a “healthy move”. Industry, she said, was, however, looking for more allocations and incentives besides a reduction in the value added tax.

Also, Ms. Reddy underscored the need to encourage every festival “irrespective of its religious ground” since Hyderabad and Telangana with their heterogeneous population enjoyed diversified culture.

Hyderabad Software Enterprises Association president Ramesh Loganathan, in a release, said the focus on solving issues related to energy is reassuring and the budget in general strikes a balance between broader social development and industrialisation. Expansion plans of existing companies should also be brought under the scope of the special cell proposed to track the progress and clearances to new investment proposals, he added.