The representatives of CII, Andhra Pradesh Chapter, watching the live telecast of the Union Budget session, in Visakhapatnam on Wednesday.
| Photo Credit: V. RAJU
Visakhapatnam
Many representatives from industries and startups feel that the Union Budget-2023 presented is a game-changer as it has planted the seeds for the future of industrial development and employment generation.
Confederation of Indian Industry (CII) Andhra Pradesh Chairman Neeraj Sarda said that the budget 2023-24 is industry-friendly, comprehensive and pragmatic and aimed at sustainable and inclusive growth.
“Fiscal prudence and business ease have been the theme of the budget. The 35% increase in the outlay for capital expenditure will drive infrastructure growth and create job opportunities for youth. The budget includes measures to provide job opportunities for youth and development of green cluster cities and achieving of sustainable and zero carbon footprints goals,” he said.
Andhra Pradesh Chambers president Pydah Krishna Prasad said that the budget is growth-oriented with long-term benefits, more thrust should have been given to agriculture. Growth in the UPI transactions is phenomenal with 7,400 crore digital payments worth ₹126 lakh crore, he added.
“Much relief has been given to the MSMEs as 95% of the forfeited amount relating to bid or performance security, will be returned to MSMEs by the government and government undertakings in cases the MSMEs failed to execute the contracts during the COVID period,” Mr. Prasad said
Rushikonda IT Park Association vice-president O. Naresh Kumar said that the focus on biofertilizer is a welcome step to reduce the use of chemicals and provide good food to population with additional loans for agriculture with green inputs.
Koduru Sumana, a pensioner, said that reducing tax slabs, putting more money in the middle-class was a good sign. “An employee with a montly salary of ₹60,000 will not be paying any tax. This is a very good help for service sector employees and middle-class employees,” she said.
Information Technology Association of Andhra Pradesh president Sreedhar Kosaraju said that four major points in the budget were directly connected to the IT and startup ecosystem. Establishment of AI centres of excellence is a significant step in India’s journey towards becoming a leader in theesctor, and it would be a game-changer.
“It’s time to bring exclusive national AI policy and also AI Act. The government should bring deep tech initiatives. Right now, we have very limited test beds for 5G,” said Mr. Sreedhar.
Fluentgrid Limited vice-president Winston S. K. Adams said agricultural lands have been converted into real estate plots or buildings. Due to this trend, the next generation is losing interest in agriculture. Supporting agritech startups is a great move to curb the trend, he said.
Allocation to IIPE
The allocation of ₹168 crore for Indian Institute of Petroleum and Energy ( IIPE) was welcomed by the academic fraternity.
The adivasi associations from Alluri Sitarama Raju district welcomed the sanction of 740 new Ekalavya Schools for the tribal children. As of now, the district has 17 Ekalavya schools, with 11 in Paderu division and six spread across the divisions of Chintapalli and Rampachodavaram.
“From the 740 new schools, we expect to get at least a few for our district,” said a senior officer from ITDA. The Union Budget also announced the recruitment of 38,000 teachers, and many from the tribal areas will get employment, he added.
The allotment of ₹15,000 crore under Pradhan Mantri PVTG Development Mission will benefit the Particularly Vulnerable Tribal Groups in ASR district. “We expect to get a share from the total sanction and it will benefit the PVTG community,” he said.