VISAKHAPATNAM: Union Minister Pemmasani Chandra Sekhar has said that the Union Budget for 2026-27 has been designed to support economic growth, reduce cost pressures on citizens and create opportunities for States such as Andhra Pradesh through targeted investments and sectoral incentives.
Addressing a press conference in Visakhapatnam on Sunday, he said the budget seeks to benefit both ordinary citizens and businesses by easing duties on select goods and strengthening sectors that drive employment. He noted that unemployment has reduced by about 3 per cent compared to previous levels, reflecting the Centre’s focus on job creation.
Highlighting major allocations, Pemmasani noted that the State railways sector has received a 10 per cent higher allocation, along with plans to develop seven high-speed rail corridors, one of which is expected to include Andhra Pradesh. “Increased spending on national highways and infrastructure projects across State are aimed at improving connectivity and logistics.”
Pemmasani pointed out that Rs 10,000 crore has been earmarked for MSMEs, which could help small and medium enterprises expand and reduce operational costs.
“Additional allocations have also been made for health and rural development programmes, alongside continued support for livelihood sectors such as fisheries, animal husbandry, coconut and cashew, which are significant for AP,” he said.
He pointed out that the Centre has proposed tax incentives for data centres, a move expected to attract investments into the State and generate employment.
“The Budget also encourages growth in high-value agriculture and promotes domestic manufacturing capabilities, including components previously imported for electronics production,” he added.
Regarding the primary sector, Pemmasani mentioned that the Central Government will cooperate in steering AP toward high-value agriculture. “Specific focus remains on fish farming, animal husbandry, and the cashew and coconut industries,” he added.