VIJAYAWADA: CII Andhra Pradesh has observed that Union Budget proposals would help accelerate growth and development. The CII office-bearers felt that there is a need to look at the budget proposals in the context of the Covid-19 pandemic.
Addressing a virtual media interaction on Union Budget 2022-23 on Tuesday, CII Andhra Pradesh chairman D Tirupathi Raju said the budget has provided greater impetus to growth. “The Budget proposals will benefit youth, women, and farmers. The inclusive approach adopted by Union Finance Minister Nirmala Sitharaman will be a boon to the economy,” he said. The investment on modern infrastructure with a long-term approach is a welcome step.
“PM Gati Shakti, which is a transformative approach to development adopted by the government, laid focus on seven engines — roads, railways, airports, ports, mass transport, waterways, and logistics infrastructure. The greater capital expenditure on infrastructure will give impetus to recovery of the Covid-hit economy,” he asserted.
CII Andhra Pradesh Vice-Chairman Neeraj Sarda welcomed the changes in the Special Economic Zones Act, which will be replaced with a new legislation that will enable the states to become partners in ‘Development of Enterprise and Service Hubs’. He felt that proposed legislation would attract more investments. He also mentioned that emphasis on urban planning would give required impetus to urban development.
D Ramakrishna, former chairman, CII Andhra Pradesh, said that the budget has laid greater focus on the digital ecosystem for skilling and livelihood.