FAPCCI, CII hail State budget

Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) president C.V. Atchut Rao welcomed the State budget presented in the Assembly on Tuesday.

In a statement, Mr. Rao said that the budget aims at combining development and welfare measures in the State and the allocations to the energy sector and transport show the importance given to the development of infrastructure projects.

Mr. Rao, however, said that the government could have announced a few measures to promote and attract private investments which would help in creating more employment.

Meanwhile, the Confederation of Indian Industry’s State chapter felt that the budget focussed on the inclusive approach and the government spending would have enough demand in the market.

In a release, CII State chairman D. Ramakrishna said that the budget focussed on an inclusive approach to ensure people at the bottom of the pyramid benefit by direct transfers and the investment in infrastructure produces positive economic externalities to growth.

The government’s social spending would create demand for goods and services in the market, he said. “The thrust is being given to building a comprehensive and enhanced social security cover for the poor and the needy through multiple interventions under the Navratnalu umbrella. It is certainly a welcome step in the present COVID-19 scenario,” he said.

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