CII Telangana leaders welcomed the Union Budget for its thrust to achieve more in the fields of agriculture, rural development, education, health and skill development.
Speaking to media, at a budget viewing session organised by CII here, chairman D.Raju termed the budget very thoughtful and aspirational. Besides seeking to improve rural economy by laying emphasis on food and agricultural sector and its thrust on education and skilling by integrating apprenticeship with graduation programme, the budget gave a big push to manufacturing sector, especially mobile and other electronic equipment manufacturing.
Chairman of CII Education Council BVR Mohan Reddy said there is a special focus on education, employability and skilling of people, though more could have been done for skilling.
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The initiative of incorporating apprentice as part of course curriculum is a welcome move. In addition, the scheme of taking students as apprentice in urban local bodies (ULBs) will offer a great learning experience to the beneficiaries. Also, allowing large hospitals to offer PG courses will bring more skilled professionals in the medical sector, he said.
Past chairman of CII Southern region Anil Kumar Epur said through various measures the budget is likely to provide a significant impetus to rural economy and will also help generate jobs.
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Managing director of Radiant Appliances and Electronics Raminder Singh Soin hailed the Budget for the push it sought to provide for the growth of electronics manufacturing industry. With the ecosystem that exists in Telangana, the State stood to gain from the proposed measures to curb imports. Such a move, by imposing tariffs, is bound to attract private firms, encourage domestic manufacturing and also create several job opportunities.
The first wave was software, now it will be that of hardware, Mr.Soin said, adding how not just electronics manufacturers but others in the ecosystem were likely to get a boost.
Finance Minister Nirmala Sitharaman, in her Budget speech, said India needs to boost domestic manufacturing and attract large investments in the electronics value chain. “I propose a scheme focussed on encouraging manufacture of mobile phones, electronic equipment and semi-conductor packaging. Details would be announced later.”
In a statement, Telangana State Federation of Textile Associations president Prakash Ammanabolu welcomed the Budget proposal to set up a National Technical Textiles Mission and the ₹1,480 crore allocation made towards that.
Traders, however, were disappointed as they expected a reduction in the rate of tax from the 30%, on the lines of what was done previously for corporates, he said.