Growth-oriented budget, say FTCCI, CII-TS leaders

February 1, 2021 0 By boss

Leaders of CII-Telangana and the Federation of Telangana Chambers of Commerce and Industry (FTCCI) have hailed Union Budget 2021-22 as growth oriented.

The budget is favourable towards improving overall economy with its emphasis on building strong infrastructure, developing a healthy India and reinvigorating education sector. Its stress on Minimum Government and Maximum Governance will strengthen the vision of Atmanirbhar Bharat, CII-TS Chairman Krishna Bodanapu said in a statement.

Noting the focus it laid on skilling by reviving apprenticeship programme, he welcomed the proposal to set up seven mega textile parks in three years, revising the SME definition and capacity building in health sector by way of either setting up or strengthening rural and urban health centres.

Vice chairman Sameer Goel appreciated the Centre’s efforts to ensure good returns to farmers through procurement. He said extension of the ‘Operation Green Scheme’ to 22 more perishable products may help increase exports and boost value addition.

FTCCI president Ramakanth Inani, who also described the Budget as growth oriented, said increased allocation for capital expenditure, mainly for roads and railways, would help create large number of employment opportunities and demand generation for goods and services.

Measures such as infusion of ₹20,000 crore into public sector banks and setting up a company to manage bad debts for banks would provide scope for increase in credit disbursement helping MSME sector and consumers in general, he said. “We welcome government decision not to increase taxes or imposing any COVID-19 related cess despite the revenue deficit,” he said, while expressing disappointment at the Budget not providing any additional exemption to tax payers in the times of crisis. Industry, he said, was expecting extension of the production linked incentive (PLI) scheme to a few more sectors.

Raw deal for State

Telangana has received raw deal as in previous budgets and no major projects were sanctioned for the State, Mr.Inani said.

Echoing similar sentiments, senior vice president K.Bhasker Reddy said while the Budget overall is “bold and progressive”, there was not much for Telangana. Given that it is a performing State, the expectations were more, especially in terms of getting infrastructure projects such as expressways, he said, adding Warangal may get one of the seven mega textile parks announced in the Budget.

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