The Andhra Pradesh Budget proposals for the year 2012-13 not are encouraging for the industry, feel industry chambers.
In a release issued on Friday, Mr V.S. Raju, President, Federation of Andhra Pradesh Chambers of Commerce and Industry said the allocation for the industry at Rs 633 crore as against 858 crore last year was “very meagre.”
Mr Jay Galla, Chairman, CII Andhra Pradesh & Managing Director, Amara Raja Batteries Ltd, expressed concern that around 63 per cent of the total expenditure is under the non-planned expenditure, which may not be a healthy sign in a long run.
The upward revision of property tax for residential and non- residential buildings was ‘high'. “The property tax hike in areas like Hyderabad is 100 per cent to 800 per cent depending on residential and non residential buildings. This needs to be rationalised based on the industry paying capacity”, he said.
The focus on health, education, housing, and other developmental initiatives of the Government were, however, most welcome, the CII said. The budgetary provision for an international airport in Tirupati was also welcome. However, there are other important trade centres such as Vijayawada, which were awaiting upgradation, it added.