The Hindu : Andhra Pradesh News : CII State chapter, FICCI welcome budget

Online edition of India's National Newspaper
Thursday, Jun 24, 2004

Andhra Pradesh

Andhra Pradesh

CII State chapter, FICCI welcome budget

By Our Special Correspondent

HYDERABAD, JUNE 23. While expressing concern over the 3.74 per cent fiscal deficit and 0.97 per cent revenue deficit, the Confederation of Indian Industry, State chapter, welcomed several other features of the State budget including the proposal of setting up an industry rehabilitation board to tackle industrial sickness, the focus given to developmental and infrastructure spending, and human resources development.

In a press release issued here on Wednesday, Mr.Ramesh Datla, Chairman, CII, Andhra Pradesh, said an alternative method of funding power subsidy has to be worked out. Nevertheless, he welcomed the focus on irrigation, agriculture, infrastructure, employment generation, health, education and poverty alleviation.

He noted that 26 irrigation projects have been programmed for completion in five years. The proposed Agriculture Technology Mission (ATM) with focus on improving efficiency factors in farming, leveraging IT to deliver real time information and customised knowledge are steps in the right direction, he said. Strengthening of food processing policy, encouragement of biotechnology and importance attached to small and medium industries, export-oriented units and large industries in the State are encouraging, he said.

Welcoming most features of the budget, C.Parthasarathy, Chairman of the A.P. chapter of the Federation of Indian Chambers of Commerce and Industry (FICCI) suggested the Government to constitute a high-powered committee consisting of leading entrepreneurs from the State and Government representations to suggest ways and measures to attract new investments to the State and also to address issues of the existing industries in Andhra Pradesh.

In a statement here on Wednesday, he welcomed initiatives for development of agriculture, rural development and education and the social sector. The need of the hour is to encourage and support the agriculture sector, which is going through a difficult phase. He congratulated the Government for allocating a plan outlay of over Rs.1,500 crores, against Rs.1,200 crores last year. He welcomed the increased plan outlay for irrigation, education, tourism and infrastructure development.

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