VIJAYAWADA: Describing the Union Budget presented by Union Finance Minister Nirmala Sitharaman as one of the best budgets with special focus on health and infrastructure development, office-bearers of CII, Chamber of Commerce and FAPCCI said the allocations made in the budget for infrastructure will help in reviving the economy.
“The budget has laid a roadmap for accelerating growth in the coming days. The special focus on infrastructure will certainly put the growth on track. The economic corridor from Kharagpur to Vijayawada and North-South corridor from Itarsi to Vijayawada will greatly benefit Andhra Pradesh,’’ said CII AP chairman D Ramakrishna.
V Venkateswara Rao, Chairman, CII Vijayawada Zone, felt that the Union Finance Minister has announced a roadmap to drive growth in post-Covid scenario. Stating that the budget focused on healthcare and infrastructure to revive the economy by boosting spending, job creation and agriculture sector, FAPCCI president CV Atchut Rao welcomed the proposal of extending tax holiday for start-ups as well as capital gains exemption till March 31, 2022.
Welcoming the Union Budget 2021-22, representatives of the AP Chambers, said that Rs 15,700 crore announced for the Ministry of Micro, Small and Medium Enterprises (MSME) will help the sector come out of distress.In a statement, AP Chamber of Commerce and Industry Federation president KVS Prakash Rao and general secretary Potluri Bhaskara Rao said the government’s announcement to raise capital base to `2 crore from the current limit of Rs 50 lakh for small companies is welcome.“Setting up of Development Finance Institution (DFI) to fund infrastructure projects with an allocation of `20,000 crore is a shot in the arm for the infrastructure sector,’’ they said.