VIJAYAWADA: Lauding the Centre for presenting a visionary and reform-oriented budget, keeping in view the long-term economic growth of the country, members of the Andhra Pradesh Chambers of Commerce and Industry Federation (AP Chambers) on Sunday said focus should be on improving infrastructure in backward regions with special emphasis on the States, which lack industrial progress like Andhra Pradesh, so that a balanced growth can be achieved. “Due to injustice, Andhra Pradesh continues to remain as an industrially backward State in South India,” the members opined.
AP Chambers President Pydah Krishna Prasad on Sunday gave a representation to Union Minister of State for Finance Dr Bhagwat Krishnarao Karad, during the latter’s meet with the industry representatives in Vijayawada.
Speaking on the occasion, he said as part of the AP Reorganisation Act 2014, the Centre released an annual grant of Rs 350 crore for seven backward districts in the State. For the last two years, the grant was not released and no allocation was made towards the same in the Union Budget 2022-23.
Extension of the ECLGS (Emergency Credit Line Guarantee Scheme) till March 2023 and expansion of guarantee cover by Rs 50,000 crore, revamping of Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE), extending concessional tax regime for new companies, expansion of national highways by 25,000 kms, 100 cargo terminals and multi-modal logistics parks were all great initiatives announced in the Union Budget 2022-23, which can spur economic revival, the members opined.
Other issues raised by AP Chambers
Logistics
At least 10 cargo terminals and a multi-modal logistics parks for the State
Polavaram Project
High priority should be given to the project. Funding for the project should be made direct instead of routing it through NABARD so as to complete it by 2023
National Highways
Timely budgetary allocations to NH 16 announced for AP in 2020. Upgrading 10 State highways into NH as promised in 2021 and completion of Anantapur-Amaravati Expressway
Textile Parks
Allotment of mega textile park to the State to augment employment generation in the sector
Others
MedTech Zone in Krishnapatnam, 40 new Vande Bharat trains for AP, allocation of funds for metro projects in Vijayawada and Vizag and Bhogapuram International Airport, Kadapa steel plant